Adapting Decisions, Optimizing Facts and Predicting Figures: Can Convergence of Concepts, Tools, Technologies and Standards Catalyze Innovation?
Can Convergence of Concepts, Tools, Technologies and Standards Catalyze Innovation?
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Managing uncertainty is key in decision systems, such as supply chain management or military readiness. We propose a reasonable confluence of existing concepts, tools, technologies and standards that may, collectively, improve adaptability of decision systems to combat uncertainty in such diverse applications as profit optimization, response time in hospitals or military readiness.
This conceptual article is aimed to provoke a broad spectrum of decision makers who wish to make even better decisions based on deeper insight from process innovation as well as right-time analysis of real-time data. It is not a panacea to rid of all poor decision steps nor can it function without appropriate and in some cases, adequate, help from the ‘enablers’ that we shall discuss.
GARCH, DSS, SCM, Grid, Agents
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