Decisions need data and analysis and the ability to make the right decisions, especially in resource intensive sectors like IT are posing an interesting challenge. The difference between a right decision and the wrong decision could run into thousands of dollars or more and added to that the net cost of the investment gone wrong in terms of business inefficiencies and business lost. Some key questions which typically arise are Value (including “intangible” benefits)? Risk Management How do I know whether one IT investment is “better” than another (IT or otherwise)? How do I know when to stop analyzing, accept some risk, and make a decision? How do I know viability of approach ? Applied Information Economics (AIE) is the practical application of mathematical models and scientific measurements in order to optimize decisions in uncertain investment environments. In IT, measuring what matters most is key to driving quantification of information value. Typical
Artificial Intelligence, Machine Learning, Deep Learning, Neural Networks, Management, Business Operations, Common Sense from #AnandKumarPadmanaban