Decision Support Software Shows You the Scenarios

By Michael Schrage

PAGE 2

MIT Sloan School of Management professor Dan Ariely and his graduate students are experimenting with an "electronic wallet" that would advise users on how best to spend their money. For example, your wallet may run a Monte Carlo simulation displaying how, based on your payment behavior, you would save $150 over the next three months by using cash for a purchase instead of your Visa card.

In other words, tomorrow’s technologies will load the dice in favor of people not repeating the sort of silly statistical mistakes that lead to Nobel Prize winning research. And that will merit a prize of its own.

« previous page | 1 | 2

Comments

More from IT Drilldown « Back to Applications

Articles

Two Approaches to NFC Battle for French Hearts and Mobiles

FCC: Internet Program for Deaf Cheated Out of Millions

Five Reasons the Google Chrome OS Will Flop

Techies Gather for a Lunch to Save the World

Why Chrome OS Will Fail -- Big Time

Microsoft Windows Chief Decries Standards Grandstanding

BMC Takes Service Desk to the Cloud Via Salesforce.Com

FAA Glitch Shines Spotlight on Troubled Telco Project

Enterprise Newsletter

Applications MarketSpace

Practical Approaches for Securing Web Applications

Enterprises understand the importance of securing web applications to protect critical corporate and customer data. What many don't understand, is how to implement a robust process for integrating security and risk management throughout the web application software development lifecycle. Learn more »

Smart techniques for application security: whitebox + blackbox security testing.

An Executive's Guide to Web Application Security

Since so many Web sites contain vulnerabilities, hackers can leverage a relatively simple exploit to gain access to a wealth of sensitive information, such as credit card data, social security numbers and health records. It's more important than ever to examine your Web application security, assess your vulnerability and take action to protect your business. Learn more »

Web Application Vulnerabilities

Security managers may work for midsize or large organizations; they may operate from anywhere on the globe. But inevitably, they share a common goal: to better manage the risks associated with their business infrastructure. Increasingly, Web application security plays a significant role in achieving that goal. Learn more »

Using ERP To Gain Competitive Advantage in a Tough Economy

For midsize enterprises, now is the perfect time to invest in a significant IT expansion - despite the economic climate. Learn more »

Why BI is Ripe For Businesses of Any Size

Oracle's range of offerings to mid-size and emerging companies reflects its vision that BI and EPM solutions can be embraced by companies of all sizes. Learn more »

Oracle Accelerate

Ovum has been following Oracle's Accelerate program over the last couple of years because they thought it is a smart strategy for penetrating the upper mid-market. Learn more »

The New Age of ERP

Not only can small and mid-sized companies reap the renowned ERP benefits of greater agility, increased business visibility and measurable ROI. Learn more »