Information profitability

Based on the information flow, a number of information-theoretical performance quantities can be derived, and some important ones are compiled in Table 9.2. The information performance of analytical methods can be related to the information requirement of an given analytical problem. The resulting measures, information efficiency and information profitability, may be used to assess economical aspects of analytical chemistry. 

Information profitability

Performance/cost relation y cost of an analysis... 

As the design progresses, more information is accumulated. The best methods of assessing the profitability of alternatives are based on projections of the cash flows during the project life. ... 

At each stage of a field life cycle raw data has to be converted into information, but for the information to have value it must influence decision making and profitability. 

Appraisal activity, if performed, is the step in the field life cycle between the discovery of a hydrocarbon accumulation and its development. The role of appraisal is to provide cost-effective information with which the subsequent decision can be made. Cost effective means that the value of the decision with the appraisal information is greater than the value of the decision without the information. If the appraisal activity does not add more value than its cost, then it is not worth doing. This can be represented by a simple flow diagram, in which the cost of appraisal is A, the profit (net present value) of the development with the appraisal information is (D2-A), and the profit of the development without the appraisal information is D1. 

The reservoir model will usually be a computer based simulation model, such as the 3D model described in Section 8. As production continues, the monitoring programme generates a data base containing information on the performance of the field. The reservoir model is used to check whether the initial assumptions and description of the reservoir were correct. Where inconsistencies between the predicted and observed behaviour occur, the model is reviewed and adjusted until a new match (a so-called history match ) is achieved. The updated model is then used to predict future performance of the field, and as such is a very useful tool for generating production forecasts. In addition, the model is used to predict the outcome of alternative future development plans. The criterion used for selection is typically profitability (or any other stated objective of the operating company). 

The profits from using this approach are dear. Any neural network applied as a mapping device between independent variables and responses requires more computational time and resources than PCR or PLS. Therefore, an increase in the dimensionality of the input (characteristic) vector results in a significant increase in computation time. As our observations have shown, the same is not the case with PLS. Therefore, SVD as a data transformation technique enables one to apply as many molecular descriptors as are at one s disposal, but finally to use latent variables as an input vector of much lower dimensionality for training neural networks. Again, SVD concentrates most of the relevant information (very often about 95 %) in a few initial columns of die scores matrix. 

Based on soHd information, but cannot be mined and processed at a profit. 

Database Producers. Producers of databases, also known as database pubHshers or information providers, determine the content of the databases, produce them, and typically lease or Hcense them to private organi2ations or database vendors. Database producers may be categori2ed as government, not-for-profit, commercial/industrial, and mixed. 

In both the average-cost and the standard-cost methods of valuing inventory, materials are not charged out at actual cost. Thus, the amount of profit or loss for the period may be varied by the method chosen to value the inventoiy. For this reason, accountants usually insist that the method of inventory valuation be consistent from period to period. This causes inertia but does not prevent a change of method men it can be justified. In such cases, it is usual to inform stockholders of the change because the influence on declared profits can be large. 

Manufacturing Cost as a Basis for Product Pricing Pricing on the basis of cost plus a fair profit has the disadvantage of ignoring demand. The modern approach is to price on the basis of market research. However, the classic cost-phis-fair-profit approach can still give useful complementary information. This can be done by any of the following three methods ... 

In reaction engineering, laboratory catal54ic reactors are tools or instruments to study how catalysts behave in some desired reaction. Quantitatively, the investigator wants to know how much of the desired product can be made per unit weight of catalyst, how much raw material will be used, and what byproducts will be made. This is the basic information needed to estimate the costs and profitability of the process. The economic consequence of our estimates also forces us to clarify what the rate limiting steps are, and how much transfer processes influence the rates, i.e., everything that is needed for a secure scale-up. Making the... 

Correlations have been used as a tool for catalyst selection studies. Predictions of the product yields and qualities possible with various catalysts can provide the necessary information for a refiner to study the economics of switching catalysts, for instance. With a good idea of the profitability of changing catalyst types, the refinery can justify such a change in his cat crackings operation. 

Another important use of correlations is the optimization of existing unit operations. Cat cracking correlations can provide the refiner with valuable information for optimizing reactor temperature level, gasoline/distillate cut point, and feed and recycle rates. The practical application of this information can mean increased profitability for the cat cracking operation. 

Beeause the nature of projeets and type of exposure vary from one intended use of a eontraetor/subeontraetor to another intended use, a eontraetor/subeontraetor qualified and in good standing with one profit eenter or projeet may not be qualified to work for another profit eenter or projeet without evaluation based on the eharaeteristies of the new assignment. The purehasing department should review the prequalifieation files or information and evaluate eaeh eontraetor/subeontraetor with respeet to eaeh projeet to be assigned. 

One of the world s largest environmental information clearinghouses. In addition to being an information resource, EnviroLink provides environmental and animal rights non-profit organizations with free Internet sendees. 

The literature of science is replete with models. This variety enables one to make some interesting observations. Thus, for example, one rarely regards models as unique or absolute, although, through the choice of a specific one (e.g., a differential equation), unique solutions to problems may be obtained. A model is formulated to serve a specific purpose. Some models may be suitable for generalization, others may not be. These generalizations are more profitably made as extrapolations for scientific purposes, and occasionally as useful philosophical observations. A model must be flexible to absorb new information, and, hence, stochastic processes have broader and richer applicability than deterministic models. 

Scanning electron microscopy and replication techniques provide information concerning the outer surfaces of the sample only. Accurate electron microprobe analyses require smooth surfaces. To use these techniques profitably, it is therefore necessary to incorporate these requirements into the experimental design, since the interfaces of interest are often below the external particle boundary. To investigate the zones of interest, two general approaches to sample preparation have been used. 

Characteristically, the mechanisms formulated for azide decompositions involve [693,717] exciton formation and/or the participation of mobile electrons, positive holes and interstitial ions. Information concerning the energy requirements for the production, mobility and other relevant properties of these lattice imperfections can often be obtained from spectral data and electrical measurements. The interpretation of decomposition kinetics has often been profitably considered with reference to rates of photolysis. Accordingly, proposed reaction mechanisms have included consideration of trapping, transportation and interactions between possible energetic participants, and the steps involved can be characterized in greater detail than has been found possible in the decompositions of most other types of solids. 

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