Sir Francis Galton (born 1828) was posed with the exact same challenge when a county fair came to town. He and all the other fair attendees were given the opportunity to win a prize by correctly estimating the weight of an ox.
Game Theory is a field of mathematics that attempts to create tools to help people make better decisions. But what does making better decisions mean? In some cases the answer is quite simple.
In cosmetic exposure, let’s explore if the majority (80%) of product exposure to a population is caused by a minority (20%) of products. To tell whether this 80/20 rule holds true we will need to calculate the aggregate exposure of cosmetic products to the population.
This technique of running many simulations is known as the Monte Carlo method, a category of modelling techniques that has and is gaining currency in many different areas, particularly with increases in computational capability.
Around the start of 1900s Arthur Guinness Son & Co. set out to hire the best scientists to analyse data concerned with aspects of their brewing process.
Risk ranking is a technique that can be used to identify the most significant risks, thereby prioritising them in a given situation to enable efficient and effective management decision making.
Studying different types of exposure such as from which route we are exposed, or chronic exposure, allows us to examine a range of scenarios.
Creme Global took part in the the Kick-off meeting for new EU Horizon 2020 project – PROTECT.
From a consumer health perspective, it’s vital that we can be sure the foods we eat are safe and are not going to make us ill. Microbial testing is one of the core components of QC in a food production environment to ensure there are no harmful bugs are slipping through into the final product.
In highly competitive industries, improved understanding of the financial exposure risk profile from being associated with contaminated products in the market is increasingly important. By using data organised in structured data sets and through the application of science-based mathematical models, Creme Global quantifies detailed risk profiles that can simplify risk management decisions and mitigate financial risk.