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We are a consulting firm based in Toronto Canada. We specialize in general practice consulting through our Synergyx Performance Enhancement Inc. division, as well as software development through Quantix Software Solutions Inc.
Our Risk-Based Decision-Making Software was developed to support our consulting practice.
You can never eliminate risk and stay in business. Progress always involves risk. You can’t steal second base and keep your foot on first!
We help our clients solve complex business problems everyday and measurably enhance their ability to create value, manage risk, and improve performance.
We add value to clients by providing them with affordable software solutions that allow them to make informed financial decisions.
Our software application is based on the well-established principles of “Fuzzy Logic” developed in the 1960s. Although fuzzy logic is quite common in engineering applications, it is not widely used in the business and financial sectors.
We aim to address these market segments which have historically used highly complex and awkward “statistical models” in their decision making process.
We have developed a unique and proprietary software application to help business professionals make better, faster, and more consistent decisions. In addition, all elements of the decision making process are recorded for subsequent review and updating.
The success of all business enterprises, and in particular those in the financial and investment sectors, is critically dependent on accurate, and timely decisions. These decisions are often based on large amounts of time-sensitive numerical data.
In the past, statistical methods have been employed to both analyze the numerical data, and attempt to evaluate the risk inherent in various investment strategies.
In many cases, decision makers are overwhelmed with information and resort to making “best guess” decisions based on only a small percentage of the total number of factors, which are actually relevant to the particular decision.
In addition, the factors and variables on which the decision is based are not documented. After a decision has yielded a particular outcome (good or bad), it is no easy task to go back and review the specific manner in which the decision was actually made.
Our proprietary software addresses the problems outlined in the following ways:
Fuzzy logic’s ability to deal with “linguistic variables” such as “Good”, “Very Good”, and “Poor” as opposed to “crisp” numbers, allows the software to more closely emulate the human decision making process which in many cases is not well suited to statistical models.
Our intuitive user interface allows the user to quickly enter data and view the calculated results.
All risk factors relevant to the decision can be loaded into our software so that the decision process is always based on an optimized set of parameters.
All Risk Categories, Risk Factors, Risk Tolerances, Opinions, Sources, and the Reliability of those Sources used in the decision are stored for later recall.
This creates an “audit trail” which can then be reviewed in order to optimize future decision-making.
This proprietary software provides corporate decision makers with a rigorous, mathematical approach to decision making.
Because it is based on the well-established principles of “Fuzzy Logic”, it allows for “human” input data in the form of opinions, which are expressed as “linguistic variables”.
Examples of linguistic variables might be opinions such as “very good”, “good”, or “poor”.
The individual or organization providing these opinions could in turn be basing them on actual numerical or “crisp” data, or they could be more intuitive in nature.
The opinions, factors, and criteria can all be customized by the end user to suit their specific applications.
Most statistics-based analytical tools currently in use rely on large amounts of “crisp” numerical data, allowing no room for “soft” input such as human opinion or intuition.
Using this proprietary software provides faster, more accurate, and more consistent decision making which is always based on the same pre-determined set of user defined risk factors and criteria. By consolidating all the pieces of evidence and entering each one into the software to produce a recommendation/decision, we eliminate errors by removing the need to make decisions “off the cuff”. The software stores and remembers all the pieces of evidence to be considered, and weighting them appropriately, produces a recommendation/decision factoring in all the available pieces of evidence at once.
Since the software automatically records all factors, criteria, evidence, and date of preparation used in the decision making process, an audit trail is provided for future review.
Our software allows you to manage your risk to acceptable levels.
· Programmed in C# to run on MS Dot Net Platform and requires Microsoft® .Net Framework 1.1, Microsoft® Internet Explorer 6.0, and Microsoft® Data Access Components 2.7. in order to run the program – provided free with the installation
· Simple to Use – Conventional Microsoft Data Input and Criteria Selection
· Database Contains Application Libraries with Risk Categories and Risk Factors
· Offers end users the ability to create their own Application Libraries to include Risk Factors and Risk Categories on the fly
· Allows the end user to accept the default Significance/Weightings or change them on the fly
· Allows the capturing of documents with a “Scan Evidence” icon to marry documents with each and every piece of Data/Evidence under analysis
· Provides a Final Analysis with and without the modifications to the Significance/Weightings for any and all Risk Categories and Risk Factors
· Provides the ability to Suppress one or more pieces of Data/Evidence, Risk Categories, or Risk Factors for the Final Analysis
· Provides a Final Report to print out all the different graphs
· Includes the ability to “import” newly revised Application Libraries, Risk Categories and Risk Factors by downloading the latest versions directly from our Web Site. This allows us to constantly update and improve the database, which will append rather than replace the databases of our existing clients.
· Includes the ability for end-users to create their own customized Application Libraries with all their unique Risk Categories and Risk Factors and to then export these Libraries to others
· Validates, confirms and corroborates existing Risk-Based Decision-Making Process and potentially replaces other inconsistent, unreliable, and inefficient processes
Risk Management demands the ability to exercise sound judgment. That judgment cannot be clouded or impaired. That sound judgment must be the basis for making sound decisions. Our software does not replace the way you make decisions today. You will continue to use the same process to make your decisions. However, with our software, you will have an extra tool to be sure that you will have made your decision:
· in a consistent fashion
· having considered all the possible factors, variables or issues
· and given those factors, variables and issues the appropriate weighting
· and having considered your risk tolerance / appetite for risk
· and having arrived at a decision/recommendation regarding the Acceptable or Unacceptable Risk
· with an audit trail to be able to recreate all the information that was available to you at the time of making the decision
Just as you today, in making a decision, begin by:
· collecting information (data/evidence) from different sources
· forming an opinion as to the risk of each of these pieces of information (data/evidence)
· determining the reliability / credibility of the source of the information
· assessing the weighting/significance for each of the pieces of information
· assessing your risk tolerance / appetite for risk
· and concluding/recommending an Acceptable or Unacceptable Risk associated with the decision
So too, with our software as your tool, it will capture each and every piece of information that is relevant in making the decision, and produce a conclusion/recommendation.
The difference is that the software will remember and weight each piece of information, and use this in calculating the results, producing them in graph and text, and providing an audit trail for the future.
With the built-in Application Libraries, and the ability for the end user to prepare customized libraries to supplement the factors included in the program, this provides a checklist of issues to consider before making these decisions.
The software may or may not support, corroborate and confirm your decision, as you continue to use your existing process to make decisions. When the software does not support, corroborate and confirm your existing decision process, then you have reason to revisit your existing decision process as it relates to this specific decision.
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