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Prescriptive Analytics
Prescriptive analytics is a form of business analytics which suggests decision options for how to take advantage of a future opportunity or mitigate a future risk, and shows the implication of each decision option. It enables an enterprise to consider "the best course of action to take" in the light of information derived from descriptive and predictive analytics.Basu, Atanu''Five pillars of prescriptive analytics success'' ''Analytics'', March / April 2013, accessed 3 December 2022 Overview Prescriptive analytics is the third and final phase of business analytics, which also includes descriptive and predictive analytics.http://www.analytics-magazine.org/november-december-2010/54-the-analytics-journey Referred to as the "final frontier of analytic capabilities", prescriptive analytics entails the application of mathematical and computational sciences and suggests decision options for how to take advantage of the results of descriptive and predictive phases. The first stage of bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Analytics
Business analytics (BA) refers to the skills, technologies, and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods. In contrast, business intelligence traditionally focuses on using a consistent set of metrics to both measure past performance and guide business planning. In other words, business intelligence focusses on description, while business analytics focusses on prediction and prescription. Business analytics makes extensive use of analytical modeling and numerical analysis, including explanatory and predictive modeling, and fact-based management to drive decision making. It is therefore closely related to management science. Analytics may be used as input for human decisions or may drive fully automated decisions. Business intelligence is querying, rep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computer Vision
Computer vision is an interdisciplinary scientific field that deals with how computers can gain high-level understanding from digital images or videos. From the perspective of engineering, it seeks to understand and automate tasks that the human visual system can do. Computer vision tasks include methods for acquiring, processing, analyzing and understanding digital images, and extraction of high-dimensional data from the real world in order to produce numerical or symbolic information, e.g. in the forms of decisions. Understanding in this context means the transformation of visual images (the input of the retina) into descriptions of the world that make sense to thought processes and can elicit appropriate action. This image understanding can be seen as the disentangling of symbolic information from image data using models constructed with the aid of geometry, physics, statistics, and learning theory. The scientific discipline of computer vision is concerned with the theory ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geopolitics
Geopolitics (from Greek γῆ ''gê'' "earth, land" and πολιτική ''politikḗ'' "politics") is the study of the effects of Earth's geography (human and physical) on politics and international relations. While geopolitics usually refers to countries and relations between them, it may also focus on two other kinds of states: ''de facto'' independent states with limited international recognition and relations between sub-national geopolitical entities, such as the federated states that make up a federation, confederation, or a quasi-federal system. At the level of international relations, geopolitics is a method of studying foreign policy to understand, explain, and predict international political behavior through geographical variables. These include area studies, climate, topography, demography, natural resources, and applied science of the region being evaluated. Geopolitics focuses on political power linked to geographic space. In particular, territorial waters an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometrics
Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics," '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8–22 Reprinted in J. Eatwell ''et al.'', eds. (1990). ''Econometrics: The New Palgrave''p. 1 p. 1–34Abstract ( 2008 revision by J. Geweke, J. Horowitz, and H. P. Pesaran). More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". Jan Tinbergen is one of the two founding fathers of econometrics. The other, Ragnar Frisch, also coined the term in the sense in which it is used today. A basic tool for econometrics is the multiple linear regression model. ''Econometri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Gas Prices
Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe. Natural gas prices in the US had historically followed oil prices, but in the recent years, it has decoupled from oil and is now trending somewhat with coal prices. The price as at 20th January 2022, on the U.S. Henry Hub index, is US. The highest peak (weekly price) was US in January 2005. The 2012 surge in fracking oil and gas in the U.S. resulted in lower gas prices in the U.S. This has led to discussions in Asian oil-linked gas markets to import gas based on the Henry Hub index, which was, until very recently, the most widely used reference for US natural gas prices. Depending on the marketplace, the price of natural gas is often expressed in currency units per volume or currency units per energy content. For example, US dollars or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) is an American multinational conglomerate founded in 1892, and incorporated in New York state and headquartered in Boston. The company operated in sectors including healthcare, aviation, power, renewable energy, digital industry, additive manufacturing and venture capital and finance, but has since divested from several areas, now primarily consisting of the first four segments. In 2020, GE ranked among the Fortune 500 as the 33rd largest firm in the United States by gross revenue. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE – Irving Langmuir (1932) and Ivar Giaever (1973) – have been awarded the Nobel Prize. On November 9, 2021, the company announced it would divide itself into three investment-grade public companies. On July 18, 2022, GE unveiled the brand names of the companies it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Varied Datasets
Variation or Variations may refer to: Science and mathematics * Variation (astronomy), any perturbation of the mean motion or orbit of a planet or satellite, particularly of the moon * Genetic variation, the difference in DNA among individuals or the differences between populations ** Human genetic variation, genetic differences in and among populations of humans * Magnetic variation, difference between magnetic north and true north, measured as an angle * ''p''-variation in mathematical analysis, a family of seminorms of functions * Coefficient of variation in probability theory and statistics, a standardized measure of dispersion of a probability distribution or frequency distribution * Total variation in mathematical analysis, a way of quantifying the change in a function over a subset of \mathbb^n or a measure space * Calculus of variations in mathematical analysis, a method of finding maxima and minima of functionals Arts * Variation (ballet) or pas seul, solo dance ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Key Questions Prescriptive Analytics Software Answers For Oil And Gas Producers
Key or The Key may refer to: Common meanings * Key (cryptography), a piece of information that controls the operation of a cryptography algorithm * Key (lock), device used to control access to places or facilities restricted by a lock * Key (map), a guide to a map's symbology * Key (music), a group of pitches in a piece * Key, on a typewriter or computer keyboard * Answer key, a list of answers to a test Geography * Cay, also spelled key, a small, low-elevation, sandy island formed on the surface of a coral reef United States * Key, Alabama * Key, Ohio * Key, West Virginia * Keys, Oklahoma * Florida Keys, an archipelago of about 1,700 islands in the southeast United States Elsewhere * Rural Municipality of Keys No. 303, Saskatchewan, Canada * Key, Iran, a village in Isfahan Province, Iran * Key Island, Tasmania, Australia * The Key, New Zealand, a locality in Southland, New Zealand Arts and media Films * ''The Key'' (1934 film), a 1934 film directed by Michael Curtiz * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Computational Model
A computational model uses computer programs to simulate and study complex systems using an algorithmic or mechanistic approach and is widely used in a diverse range of fields spanning from physics, chemistry and biology to economics, psychology, cognitive science and computer science. The system under study is often a complex nonlinear system for which simple, intuitive analytical solutions are not readily available. Rather than deriving a mathematical analytical solution to the problem, experimentation with the model is done by adjusting the parameters of the system in the computer, and studying the differences in the outcome of the experiments. Operation theories of the model can be derived/deduced from these computational experiments. Examples of common computational models are weather forecasting models, earth simulator models, flight simulator models, molecular protein folding models, and neural network models. See also * Computational cognition * Reversible computing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematical Model
A mathematical model is a description of a system using mathematical concepts and language. The process of developing a mathematical model is termed mathematical modeling. Mathematical models are used in the natural sciences (such as physics, biology, earth science, chemistry) and engineering disciplines (such as computer science, electrical engineering), as well as in non-physical systems such as the social sciences (such as economics, psychology, sociology, political science). The use of mathematical models to solve problems in business or military operations is a large part of the field of operations research. Mathematical models are also used in music, linguistics, and philosophy (for example, intensively in analytic philosophy). A model may help to explain a system and to study the effects of different components, and to make predictions about behavior. Elements of a mathematical model Mathematical models can take many forms, including dynamical systems, statisti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Data
In the pursuit of knowledge, data (; ) is a collection of discrete Value_(semiotics), values that convey information, describing quantity, qualitative property, quality, fact, statistics, other basic units of meaning, or simply sequences of symbols that may be further interpretation (logic), interpreted. A datum is an individual value in a collection of data. Data is usually organized into structures such as table (information), tables that provide additional context and meaning, and which may themselves be used as data in larger structures. Data may be used as variable (research), variables in a computation, computational process. Data may represent abstract ideas or concrete measurements. Data is commonly used in scientific research, economics, and in virtually every other form of human organizational activity. Examples of data sets include price indices (such as consumer price index), unemployment rates, literacy rates, and census data. In this context, data represents the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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