Structured Decision Making

by Andreas Michael Theodorou

Overview

In today’s world, one is inundated with a great amount of data which is necessary to be analysed and utilized in order to reach the right conclusions. Someone who does not know the method or skills which are essential in order to make consistently beneficial or correct decisions, resembles a person wondering in a dark forest without a compass or source of light. Fortunately, for a formal or structured process of decision making, there are facilitating methods and tools which effectively represent the equivalent of a compass and lighting source for this important process. The book introduces, on elementary level, the concepts of “Probability”, “mathematical Expectation” and “Risk evaluation or analysis”, which together form the support base for the process of correct evaluation of data. This structure enables one to reach a useful or beneficial decision and select the best option out of a range of options with consistency and efficiency.
Numerous examples are offered, during the discussion, which help to clarify all elements involved in the definition and application of these concepts

Product Details

BN ID:	2940152370133
Publisher:	Andreas Michael Theodorou
Publication date:	09/22/2015
Sold by:	Smashwords
Format:	eBook
File size:	315 KB

About the Author

Born in the island Cyprus to a deeply religious family, grew up amidst the liberation struggle against colonialism and the subsequent intercommunal fighting. Completing his high school education on the island, he continued his studies in Greece obtaining a diploma in light current engineering. He got married to his childhood sweetheart and they are still happily married with two children, both graduates and successful entrepreneurs in the field of Information Technology.
Due to the Turkish invasion of Cyprus he never returned to the island, emigrating instead to South Africa where he started working in a manufacturing company as a technician. In parallel he continued his studies and obtained a diploma in Datametrics (Physics and Computer Science) from the University of South Africa. He remained all his working life with the same company moving through the ranks of Manager, Production Director and eventually Managing Director. He retired a few years ago and he found the time to get involved with his real hobby of software development and design of all sorts of applications. Becoming an author was never among his intentions but, as you will realize reading his book titled "A Grain of Sand", he was left with no alternative.