In the modern world information has become the new power. An increasing amount of efforts are being made to gather data, resources being allocated, time being invested and tools being developed. Data collection is no longer a myth; however, it remains a great challenge to create value out of the enormous data that is being collected. Data modeling…

Complex decision-making environments often demand that a range of alternative strategies be identified and compared for their shared value in achieving desired ends. Simple parametric statistical procedures such as analysis of variance and discriminant function analysis can be used in such situations to compare (using selected criteria) the value…