When I was a staffer on Capitol Hill I recall hearing two different stories told quite often during debates on the Senate floor.
One was: There are three types of lies in the world—simple lies; damn lies; and then there are statistics! Continue reading
It has been suggested that Stone Age man had a higher IQ than today’s modern homo sapiens. “That cannot be” says the modern man but, if one thinks about such an assault on our modern-day ego and self-confessed superiority, the alleged ‘primitive’ man was able to survive in extreme conditions, travelled the planet and set the foundations for today’s societies. Continue reading
While we look at risk-based decisions, and making decisions under uncertainty, these approaches all have one basic assumption – that the participants in these processes are doing so consciously, with eyes open and with appreciation of the risks and consequences involved. Continue reading
No one can deny that risk exists. It’s the potential to lose something of value. It would be irresponsible to ignore it. The question becomes, what kind of decisional practice and behaviors are operationally and economically effective when it comes to risk in organizations? Continue reading
ROI does not come for automating a process but from using it to add value. Value adding comes from targeting time and resources, risk based thinking, and Business Intelligence where they can deliver the greatest benefit to achieving the organisation’s strategic goals. Continue reading