Paper Info
Title
Digital Coaching for Real Options Support.
Abstract
Classical management science is making the transition to analytics, which has the same agenda to support managerial planning, problem solving and decision making in industrial and business contexts but is combining the classical models and algorithms with modern, advanced technology for handling data, information and knowledge. In work with managers in the forest industry, we found out that there is a growing interest to replace the classical net present value (NPV) with real options theory, especially for strategic issues and uncertain, dynamic environments. Uncertainty and dynamics motivate the use of soft computing, i.e. versions of the real options methods that use fuzzy numbers (intervals), macro heuristics, approximate reasoning and evolutionary algorithms. In general, managers can follow the logic of the real options theory but the methods require rather advanced levels of analytics; when the methods are implemented, they will be used by growing numbers of people with more of a business than analytics background. They find themselves in trouble pretty quickly as they need to master methods, they do not fully understand and details of which they forget from time to time. We propose that digital coaching is a way to guide and support users to give them better chances for effective and productive use of real options methods.
Year
DOI
Venue
2017
10.1007/978-3-319-64286-4_9
Studies in Fuzziness and Soft Computing
Keywords
Field
DocType
Digital coaching,Analytics,Fuzzy real options
Data science,Evolutionary algorithm,Computer science,Knowledge management,Heuristics,Artificial intelligence,Soft computing,Fuzzy number,Net present value,Analytics,Coaching,Macro,Machine learning
Conference
Volume
ISSN
Citations 
360
1434-9922
0
PageRank 
References 
Authors
0.34
5
1
Name
Order
Citations
PageRank
Christer Carlsson11844164.70