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An Interesting Christmas Gift

Rob Brown 07 Jan 2015 Risk and uncertainty

Over the holidays, the New York Times delivered an unusual juxtaposition of headlines and content, and apparent lack of self-awareness, to illicit such a hearty chuckle from its readers as to make the cheerful Old Saint jealous.

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Greenhouse Gas Emissions and Energy Expenditure from Santa’s global tour

Lonnie Chrisman 04 Dec 2014 Energy and environment, News

In a few weeks, Santa Claus will embark on his annual Christmas eve ritual, delivering presents to the good little boys and girls around the world. In this article, I look at the net energy expenditure and greenhouse gas emissions...

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Congratulations to Dr. Max Henrion for Decision Analysis Society's 2014 Best Practice Award

Lonnie Chrisman 13 Nov 2014 Case studies and applications, Energy and environment, News

      I want to offer my congratulations to my colleague here at Lumina Decision Systems, our CEO Dr. Max Henrion. The annual INFORMS conference took place this week in San Francisco, where Max gave a presentation on the 

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Latin Hypercube vs. Monte Carlo Sampling

Lonnie Chrisman 23 Jul 2014 Analytica tips, Analytics and OR, Risk and uncertainty

In a recent post on Linked In, David Vose argues that the advantages of Latin Hypercube sampling (LHS) over Monte Carlo are so minimal that "LHS does not deserve a place in modern simulation software." [1]  He makes some interesting...

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The Value of Knowing What You Don't Know

Rob Brown 11 Jul 2014 Case studies and applications, Risk and uncertainty

Few of us really like uncertainty. It fills us with dread. It frustrates our planning efforts. It makes analyzing its effects complex. After all, where in a spreadsheet do you put uncertain values for revenue or costs? Admittedly, accounting for...

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Announcing Analytica 4.5

Lonnie Chrisman 11 Feb 2014 Analytica tips, News

Lumina Decision Systems has announced the release of Analytica 4.5. One change that is sure to garner lots of attention is the new Analytica Free 101 edition. That's right -- there is now a fully functional edition of Analytica that you can...

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Fast Times to the Core

Sean Salleh 24 Jan 2014 Analytics and OR

I remember a time when my driver’s license was just a learner’s permit, tater tots were the best part of lunch, my Great Gatsby book report was due on Friday, and physics was all about stick figures and...

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Salesforce Performance Attributes and Prediction

Sean Salleh 06 Dec 2013 Modeling methods

Running the sales arm of a company has its mix of regular client communications and stressful growth seeking periods. Good management of the salesforce and expectations from executives to salespeople demands understanding attributes of salesforce performance. Imagine needing to ramp...

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Smart Grid Electricity Management and Decision Analytics

Sean Salleh 04 Dec 2013 Analytics and OR, Case studies and applications, Energy and environment, Modeling methods, Risk and uncertainty

To smart or not to smart, that is the question! Except, despite what our TV offerings often display, going smart is always the best choice. Like any human-made system, we should aim toward smart designs, and we need this for...

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Climate Change Effects and Econometric Electricity Demand Forecasting

Sean Salleh 02 Dec 2013 Analytics and OR, Energy and environment, Risk and uncertainty

Whether you find global warming as an ethereal notion only worthy of banter or,  like many scientists, a real phenomenon to be studied, the effects pose difficulty for practitioners to forecast the behavior of commodities like electricity and...

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