RISK ANALYTICS DAY
FEB 11 2015 8:00 AM - 4:30 PM
The morning session will feature three speakers on the topics of risk analytics,
fraud detection, and simulation. The afternoon session will consist of hands
on risk analytics and simulation software demonstrations and training.
Featured Risk Analytics Speakers
Sam L Savage
Stanford University and probabilitymanagement.org; Author of the Flaw of Averages. will present"The Flaw of Averages and How to Cure It". The Flaw of Averages is a set of systematic errors that occur when single “average” outcomes are substituted for uncertain future forecasts.
West Virginia University; PhD Accounting University of Cincinnati; Author of Forensic Analytics (Wiley, 2011) will present "Benford’s Law as a Risk Analytics Tool". In the 1930s, Frank Benford, a physicist at GE discovered that there were predictable patterns to the digits in lists of numbers. He showed that the ten digits were not expected to occur evenly in tabulated data.
Operations, Business Analytics, Information Systems faculty member, University of Cincinnati ; Author of best-selling simulation texts Simio snd Simulation: Modeling, Analysis, Applications and Simulation with Arena will present "Valid Models and Analysis of Risk in Complex Real-World Settings: Simulation as a Method of Choice". The only thing that’s for sure is that nothing is for sure, so we need to consider uncertainty and risk in models of reality.
The afternoon sessions will feature risk analytics and simulation softare demonstrations by Arena and SIPMath