DATA-DRIVEN (QUANTITATIVE) DECISION SUPPORT SYSTEMS
Thoughts on definition of Noise and Thresholds 1. I am obsessed by the thought of being able to make my everyday decisions in a more objective way, unclouded by emotions and biases so common with us humans. There must be academic papers on the topic of quantitative-based decision-making. But I have never read any. So these are the ramblings of a novice in this field. 2. Any data-driven (quantitative) decision support system must have (a) some kind of noise removal method for initial ‘cleaning’ to remove data that is considered not relevant to the model (b) Methods for setting thresholds of some kind i.e. a numerical value that is the boundary for, and triggers a Yes/No decision. 3. Thus, the two key aspects of any quantitative decision-making process are the removal of noise, and the establishment of thresholds that trigger decisions. For this reason, I am fascinated by the definition of Noise and...