IT Governance, Risk, and Compliance

Aug 12 2010   6:40PM GMT

Compliance through Automation: Decision Support Systems – Part V

Robert Davis Robert Davis Profile: Robert Davis

There are many types of detail variables that may be associated with a mathematical model. Binary variables are employed for “go” and “no-go” decisions. Furthermore, discrete variables are utilized for any of a finite number of values. Questions of “which” and “when” are represented as specific discrete values. Such datum need not be continuous, however, continuous variables present an infinite number of possible values, and all the values will lie within a specific range. Among the other characteristics of variables, they can be random variables that model uncertainty and are expressed as probabilities. They can also be exogenous variables, ones that are external to the model and cannot be influenced by decision makers.

View Part I of the Compliance through Automation: Decision Support Systems series here

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