How Probability Charts can be Powerful Business Tools
Image source: Lithium atom electronic wave, CNRS. *Note: The Schrodinger equation is used to find the allowed energy levels of quantum mechanical systems (such as atoms, or transistors). The associated wavefunction gives the probability of finding the particle at a certain position.
Highlight: “Researchers have studied natural photosynthesis processes in a range of species from terrestrial plants to aquatic algae in order to specifically better understand the micro processes involved and to apply the findings to fields such as Photonics using quantum theories…”
Insight: In the field of Quantum Physics scientists have to deal with happenings that are impossible to see without high tech instruments. However, the field has managed to develop robust mathematical tools to predict the behaviors of these systems with a remarkable high level of confidence.
For instance, the Schrodinger equation* (personally my favorite of all equations), allows to predict the position of a subatomic particle at a given point in time. It is not possible to know exactly where it is but what this tool provides is a powerful prediction of its position range illustrated as a probability of occurrence within a narrow space and following specific patterns given the dynamic conditions.
This ideology is applicable to businesses especially large corporations which have to deal with complex prediction models. There are a range of factors which cannot be seen or known for sure but using the right tools and assumptions can give a good idea.
As an illustration, lets say a large agribusiness is facing production losses from insect invasions on its fields and would like to apply an Eco-friendly spray (that is just me being optimist) to control it. Since insects migrations are non static and have a high degree of unpredictability in their patterns, it is not possible to know for sure where exactly the impacts will be. However, models based on a number of realistic assumptions such as previous events or weather conditions can help to chart a probable path of these events to prepare a meaningful action plan which would be more economically viable.
Are you facing situations which require mapping an invisible complex happening? Then perhaps consider mapping the outcome on a probability chart as this will set a strong basis for strategic decision making and risk management.
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What is Biomimetics: the field of gaining inspiration from nature first to solve some of our most difficult challenges. Instead of coming up with our own solutions to a problematic, the odds are that species or natural systems on the planet already offer an ultimate solution. This simple fact is also another strong case to preserve species at all cost as the intellectual heritage contained within or through the study of species is both irreplaceable and invaluable…