Skip to main content

Business and Risk Analysis

There is much uncertainty in the business world, so when it comes to making business decisions, there is often a challenge in measuring and balancing all the risks involved and adequately factoring in how changes in circumstance might influence strategic decisions.

Risk often translates into variability and uncertainty - two cornerstones underlying statistical theory and practice - and hence understanding risk becomes a natural problem for statisticians.  Data Analysis Australia uniquely combines an understanding of business, finance and markets with statistical modelling expertise, allowing us to model both the likelihood of events occurring and their potential impact on our client's business.

Data Analysis Australia has applied business and risk analysis in the following areas:

  • Using probability theory and game theory to assist clients to understand likely actions of their competitors when developing business models;
  • Assisting large corporations to set prices that consider what the consumers will accept and how the market might react;
  • Applying sophisticated simulation models to allow management to ask "what if" questions about possible system improvements; and
  • Applying econometric techniques such as contingent valuation to not only determine whether consumers will buy a product, but what proportion of them will buy and at what price, leading to the optimisation of net returns.

Industry Case Studies

Courts - Simulating Risk in the Courtroom
Horizon Power - Solar Power and Storage