Title:	USING GRID TECHNOLOGIES TO SUPPORTINTELLIGENCE BY PROVIDING A HIGHER LEVEL OF ACCURACY IN FINANCIAL DECISION MAKING
Author(s):	Nik Bessis , Tim French , Zhihua Lai
ISBN:	978-972-8924-35-5
Editors:	Piet Kommers (series editors: Piet Kommers, Pedro Isaías and Nian-Shing Chen)
Year:	2007
Edition:	Single
Keywords:	Grid technologies, intelligence, decision-making, high-level accuracy, financial sector
Type:	Full Paper
First Page:	89
Last Page:	96
Language:	English
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Full Contents:	click to dowload
Paper Abstract:	This paper aims to offer proof of concept in the applicability of grid related technologies for supporting intelligence in financial decision-making. We do this, by discussing Simon’s well-known decision-making phases model “intelligencedesign- choice” alongside with the concept of “bounded rationality”. Next, we present our approach for producing calculations of higher level of accuracy using grid technologies. This will serve as the underlined point of reference throughout this paper. To further the explanation of the concepts and practices associated with using grid technologies to support intelligence in financial decision-making, a mini-case is employed incorporating scenarios. Specifically, Pension Funds as our typical real-world case study are used to demonstrate how they could benefit by using grid technologies when seeking to match their future liabilities against their income streams. Finally, we conclude by discussing the implications of using grid technologies to assist intelligence in the financial decision-making sector.
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