Quantifying Uncertainty to Plan in Dynamic Environments

Abstract

Uncertainty is defined by the lack of information to know the future state of a system. This definition highlights the importance of information in an era of constant change and turbulence. It is not surprising that greater the uncertainty in the environment, the greater the value and importance that the management of information takes. Even so, information, being such a valuable resource, is treated empirically and qualitatively although there are formulas to quantify it. This article seeks to provide tools to quantify uncertainty so that it can be included in the planning process and scenario projections.



Author Information
Rafael Aita, University of Lima, Peru

Paper Information
Conference: ACSS2015
Stream: Economics and Management

This paper is part of the ACSS2015 Conference Proceedings (View)
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Posted by amp21