In this one-hour session, Introduction to Applied Information Economics: The Need for Better Measurements, you will learn an overview of methods that show independently, scientifically measured improvements to management forecasts and decisions.
The key to Applied Information Economics (AIE) is how it focuses the analysis on measuring what matters. AIE computes the value of information for the uncertainties in a decision and targets measurement efforts towards areas which have the most effect on the decision. This has been widely used in many practical business environments including insurance, manufacturing, transportation, utilities, banking, .com startups, and media. AIE is a complete-solution methodology that includes training, tools, process documentation, and initial consulting. Unlike methods that produce arbitrary “scores” or unrealistic ROI’s, AIE conducts a true “Risk/Return” analysis that would be recognizable to actuaries, economists, and financial analysts. All measurements are real measurements that are based on proven methods and have a known statistical validity.