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Sunday, June 10, 2018

Systems Dynamics and Data Science

Interesting connection, though I have never heard of systems dynamics directly invoked in a business process model in a very long time.   Embedded yes in things like process and systems control, but not in high level process.  Should  be considered more often, probably.  But business process usually happens many levels above these possibilities.  Do like that this makes me think of it again.

Developed at MIT’s Sloan School of Management in 1950s system dynamics is a methodological approach to model the behavior of complex systems, where change in one component leads to change in others (like the dominos effect with feedback loops added). This approach is widely applied in industries such as healthcare, disease research, public transportation, business management and revenue forecasting. The most famous application of system dynamics probably is in Limits to Growth.  ... " 

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