Big Decisions Blog
The latest news and insights from the team at Hubbard Decision Research
Revolutionizing Risk Management in the Insurance Sector Through Cybersecurity Assessment
Client: A Global Leader in the Insurance Marketplace Industry: Insurance Objective: To enhance cybersecurity risk management by developing a comprehensive risk and control model tailored for the insurance industry. Executive Summary In a world where cyber threats are...
Optimizing IT Infrastructure for Enhanced Banking Performance
Client: A Leading Silicon Valley-Based Financial Institution Industry: Banking Objective: To conduct a cost-benefit analysis for consolidating data center operations, which involves advanced Monte Carlo models and data-driven dashboards Executive Summary A top-tier...
Optimizing Prices for Project Bids
Summary: By measuring how their experts price projects and price elasticity, HDR was able to build our client a pricing model that tripled their operating income. A few years ago, a medium-sized manufacturing firm came to HDR to help redefine how they quote projects....
Calibrating Chat GPT for Its Overconfidence
In a previous article, we measured how calibrated Chat GPT 4 was at providing a 90% confidence interval. During the experiment, after explaining what is meant by a 90% confidence interval, Chat GPT would provide a stated 90% interval that would only contain the actual...
Is ChatGPT as Overconfident as Humans?
“It’s not what we don’t know that hurts, it’s what we know for sure that just ain’t so.” The quote above is often attributed to Mark Twain. Ironically, the authorship of this quote being somewhat uncertain, beautifully illustrates the very point it makes....
A Quant’s Approach to Buying vs Renting
Tab 1…., Tab 2…., Tab 1.., Tab 2. I was anxiously clicking back and forth between two tabs on Zillow.com for the DC area. One shows the “For Sale” homes in a popular young professional neighborhood, and the other “For Rent” in the same area. Two nearly identical...
Herd Immunity and State Health Departments
Misallocation of Vaccines Leads to 75,000 Additional US Deaths...At Least As we prepare to roll out the vaccine across the United States, we are faced with an unparalleled opportunity. But there is also a danger of squandering the opportunity. States will distinguish...
Doug is Interviewed by Business Security Weekly
Watch the interview with BSW that was previously aired on Tuesday, August 4th at 6:30pm CDT. Doug talks about his ground shaking exposé on the failure of popular cyber risk management methods, How To Measure Anything in Cybersecurity. This particular book is a Palo...
