Value of information - What is required for Value of information? What not to expect
Quantifying the value of information can make a decision more actionable. However, information does not always add value. We will demonstrate with a case study how to evaluate and then interpret the results. Often there is a trade-off and understanding the upside and downside of information is important.
About The Speakers
Decision Quality Consultant, Putt DQ Consulting
Brian is currently a Decision Quality Consultant to assist organizations in making good decisions using probabilistic analysis. He maintains a YouTube Channel that include a number of instructional videos on Excel and SIPmath applications. After retirement from Chevron in 2016 he has volunteered with the non-profit Probability Management (www.probabilitymanagement.org) to promote Decision Quality using SIPmath. Brian is also active in the Society of Decision Professionals (SDP) and is chairing the Greater San Francisco Bay Area Chapter which brings together practitioners of Decision Quality and other individuals such as Data Scientists that are interested in the subject with the objective of promoting better decision quality. He also leads an SDP interest group on Cost and Schedule Risk analysis.