<p><span style="font-family: arial;">When building models we are often confronted with assumptions that evolve over time. In most cases it is important to capture these changes to keep our model relevant. Over the last decade, Business Intelligence solutions have created a culture of self-service IS information.  Given this democratization and decentralized access to data has created many opportunities and pitfalls for business analysts and decision-makers. We are going to ou

<p>Prof Frank H Knight (1921) proposed that "risk" is randomness with knowable probabilities, and "uncertainty" is randomness with unknowable probabilities. However, risk and uncertainty both share features with randomness. The illustration below explains the relationship of the concepts better than words...</p> <div style="clear: both; text-align: center;" class="separator"><a href="http://2.bp.blogspot.com/_cQns-qO1Pks/TARiZDGHZAI/AAAAAAAAAmg/d-L4QV7jInk/s1600/uncertainty.j

In today's interconnected global economy, trade wars and tariff policies can have far‐reaching impacts on domestic and international markets. This blog article is intended to foster a discussion and give fellow decision modelers and strategists (Decision Superheroes) a simple framework to understand the system dynamics of a trade war. The models were coded in Julia and all the files are available on Github.