Business Concept
Analytic Tools

Analytic tools are the instruments for sophisticated forms of business data analysis. This can be a portfolio analysis of a bank, including the risk weight of assets as well as an analysis of time series and the change of relevant business data over time.

However, there is not always time to carry out lengthy analytics. Fast and Frugal Heuristics explores how decision are made under extreme time pressure. Traditional models of unbounded rationality and optimization in cognitive science, economics, and animal behavior have tended to view decision makers as possessing supernatural powers of reason, limitless knowledge, and endless time.

"If something can go wrong, it will", is a simple (and pessimistic) analysis by Edward Murphy, commonly known as Murphy's law. Murphy's Law Revisited delivers a follow-up on the perplexing properties of weather forecasts and tumbling toast and delves into the scientific basis for some of the best-known manifestations of Murphy's law.

Humans tend to analyze their surroundings and try to shape it so that it best fits their requirements. Game theory is an approach to analyzing human behavior, and particularly human interactions. It deals with questions about how individuals respond to situations involving other self-interested agents in order to maximize their own benefit. This might also involve acting in seemingly contradictory ways, as Introduction to Game Theory will show you.