In the 1912 shipwreck of the HMS Titanic, hundreds of people perished as the ship struck an iceberg […]
Today’s business world is filled with opportunities to review the information on the way that business organization, collect, […]
We have written extensively about applying the Pareto principle: 80-20 to a handful of business operations such as customer segmentation, product and inventory […]
You can use insights from entropy for measuring uncertainty for a variety of business problems, ranging from risk […]
In a previous article we have seen how Condition Based Maintenance (CBM) helps to identify problems before they arise. In […]
With all the hype surrounding predictive analytics (PA), one may be forgiven for mistaking it with fortune telling. […]
Feature selection or data dimension reduction or variable screening in predictive analytics refers to the process of identifying the few […]
Back in the 1990’s when data mining (now data science and analytics) were just attracting the attention of […]
Key Performance Indicators (KPI) are very important class of business metrics. Ranking KPI is even more important. When […]
There are apparently many different definitions of risk management as there are practicing groups. But most definitions involve […]