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I remember the late nineties (more than twenty years ago!), when Alfonso Pace and I, together with Davide Possati, a good friend of us who at that time was a partner of Nestplan Europe (later Nestplan International), applied multivariate statistics in addressing a complex consulting assignment in the gear-motors industry. As a matter of fact,…
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Always about the importance of personal judgment in making decisions (see our previous posts), I came across one of the best textbooks I have ever read on operations research (Miller & Starr, 1969) during my MBA studies a century ago! As a matter of fact, I wonder why operations research is often neglected in most…
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In the previous post we just referred to the well-known idea of supporting managerial decisions with models, just introducing the concept of judgmental models, i.e. models whose algorithms are fed by subjective inputs and are mainly based on the users’ judgments and assessments, representing a good compromise between the complexity of sophisticated mathematical models and…
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