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SUMMARY:Do we really need more data? - Max Langtry\, PhD student\, CUED
DTSTART:20250214T160000Z
DTEND:20250214T170000Z
UID:TALK226126@talks.cam.ac.uk
CONTACT:46601
DESCRIPTION:Engineers love to measure stuff. Knowing the correct answer is
  a simple joy. But ultimately what matters is not the data but what we can
  do with it.\n\nUncertainties exist in all Engineering systems and decisio
 ns such as design\, control\, and maintenance need to be made accounting f
 or the statistics of the system.\n\nBy gathering data through measurement 
 we can reduce these uncertainties and improve our decision making ability.
  But gathering data is often costly.\n\nSo is gathering more data about ou
 r system actually worth the cost? How strong is our existing statistical u
 nderstanding of the system we’re studying? Is it good enough for the dec
 isions we need to make? Do we have enough data already?\n\nThis talk will 
 explore a method for quantifying whether data collection is worthwhile for
  supporting decision making (called Value of Information analysis)\, and w
 hat it can tell us about how we should use data to support the design of e
 nergy systems.\n\n 
LOCATION:JDB Seminar Room\, CUED
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