The Smith Institute specialises in modelling and analysing scenarios to support informed decision making under uncertainty. We investigate processes to capture data, analyse the data itself and gain an understanding of the desired consequences of any decision, which enables our clients to be more informed and reduce uncertainty.
No matter the industry or the level of management, all organisations and staff face critical challenges and choices. These can span a continuum of choices, or sometimes be a simple fork in the road. The underlying thread between all of these is uncertainty in the outcome. Despite great leaps in the availability of data and technology, it is impossible to acquire perfect information and to foresee all future events.
It is possible however, to reduce uncertainty, and this is where information, technology and mathematics are key. Often organisations have data, or processes to capture data, that could be better utilised by decision makers but these may not be presented in a way that is comprehensible or of clear use.
To bridge this gap, the Smith Institute uses modelling, analyses scenarios and investigates processes to establish their effectiveness and efficiency at acquiring all useful information. We study the data itself to assimilate it and consider our clients’ objectives so that the information derived is presented in a way that relates best to the challenges faced. By following these lines of enquiry our clients are in control, but most importantly, are more informed, allowing them to make the most effective decisions.