Decision analysis

Preference has a unique methodology for analyzing complex decision situations. The company possesses unique mathematical algorithms for analyzing large systems of alternatives, consequences, and conflicting objectives, based upon more than twenty man-years of research and development.

The groundbreaking research behind Preference’s products allows uncertain parameters in the decision process as well as analyzing situations where all decision parameters are not known.

The algorithms and their use within risk and decision analysis are subject of an approved US Patent No. 11/145229 owned by Preference. The software suit contains an implementation of these decision algorithms in different ways, addressing specific needs, and is proprietary to Preferenc

Risk analysis

In today’s global competition, businesses often are forced to deal with risks that they previously could transfer to their clients.

Preference applies both formal computational methods and qualitative studies to analyze and identify risks associated with different activities and we have experience with risk analysis in many business domains such as energy, forestry, telecommunications, and international development.

Our novel Preference Risk Library (PRL) is a generic but customizable software that efficiently evaluates operational risks, as well as evaluating the effectiveness of mitigations who reduce the probabilities of unwanted risks or the consequences if they occur.