Analytics, at its core, is leveraging data for measuring and improving business outcomes. Management guru Peter Drucker once said, “What gets measured gets managed.” Basically, effectively measuring ...

Variance is a measurement of the spread between numbers in a data set. Investors use the variance equation to evaluate a portfolio’s asset allocation.

Bayesian uncertainty analysis represents a powerful statistical framework that integrates prior knowledge with observed measurement data to quantify uncertainty in a consistent probabilistic manner.