Decision Science

We are using quantitative techniques to inform decision-making at both the individual and population levels. The aim is to make optimal choices based on available information. We develop Decision Support Systems to enable efficient operation.

1. Decision analysis

• Evaluating choices and trade-offs.

2. Risk analysis 

• Assessing uncertainties associated with decisions.

3. Cost-benefit analysis 

• Comparing costs and benefits.

4. Cost-effectiveness analysis

• Evaluating the effectiveness of interventions.

5. Constrained optimization 

• Finding the best solution within constraints.

6. Simulation modeling

• Creating models to simulate real-world scenarios.

7. Behavioral decision theory

• Understanding human decision-making.

• We apply operations research, microeconomics, statistics, management control, psychology, and computer science.

8. Feasibility Studies

• We conduct both technical and economics feasibility studies.

9.   Market Research

• We conduct market research to determine the overall success of the project in all aspects.

10. Business Process Re-Engineering

• We design business turn-around strategies and implement streamlining for recovery.

Focus on Decision

• Centers around making optimal choices.

• We emphasize on  understanding the scientific issues and value judgments underlying decisions.

• We identify trade-offs associated with specific actions or inactions.

Tools and Methods

We mploys a variety of tools and methods:

1. Models for decision-making under uncertainty

• Addressing situations with incomplete  information.

2. Experimental and descriptive studies of decision-making behavior

• Investigating how people make choices.

3. Economic analysis of competitive and strategic decisions

• Evaluating business decisions.

4. Group decision-making approaches

• Facilitating decisions by teams.

5. Mathematical modeling techniques 

• Representing complex systems.

Applications

Applications in various domains

1. Business and management

• Optimizing resource allocation, strategic planning, and risk assessment.

2. Law and education 

• Informing legal decisions and educational policies.

3. Environmental regulation

Balancing environmental protection and economic impact.

4. Military science 

Tactical and strategic decision-making.

5. Public health and public policy 

• Integrating scientific evidence with societal values to improve population health.

We provide a unique framework for understanding complex problems and improving policies by focusing on decisions as the fundamental unit of analysis.