Contact: Matthew T. Irey, COO
New Software applies Nobel Prize-winning theories for making risky decisions
EAST LANSING, Mich. – Revolutionary new risk assessment and decision-making software that will benefit academic researchers and decision-makers in multiple businesses and industries has been launched by East Lansing-based Supported Intelligence, LLC.
Supported Intelligence, LLC was founded by Patrick L. Anderson and the Anderson Economic Group (AEG), Michigan’s leading economic, financial and public policy research firm. The team spent the better part of 6 years developing the Rapid Recursive Toolbox and has filed a patent application to protect the rights to the invention.
The Rapid Recursive® Toolbox uses advanced mathematical concepts to provide a substantially more powerful analysis and decision-making process in financial, investment, academic and other risk-assessment environments.
“Rapid Recursive is superior to other risk-assessment tools because of its enhanced ability to model the uncertainty and choices that come with decision-making,” said Matthew Irey, President and Chief Operating Officer of Supported Intelligence.
Rapid Recursive is based on ground-breaking mathematical theories that were developed over the last 50 years, and were thought to be too difficult to put into practice. However, tremendous progress on the computation and theoretical fronts has allowed Supported Intelligence to deliver the first ever recursive-based analytical tool to the market. The Rapid Recursive Toolbox handles the difficult tasks of formulating the necessary mathematical structures, error-checking them, solving the underlying mathematical equations and reporting the data in an actionable manner.
“Rapid Recursive offers the ability to analyze thousands of different scenarios,” Irey said. “When you have to make several decisions over a period of time, you want to know the costs and benefits involved with each. The traditional risk assessment models don’t accurately take these strategic issues into account – Rapid Recursive allows users to evaluate sequential decision problems in a flexible, groundbreaking way.”
“Rapid Recursive can serve as a launching point for truly groundbreaking research,” said Irey. “We’re very excited to see how some of the country’s leading minds put this product to work furthering their fields.”
The MATLAB based toolbox is the first stage of the Rapid Recursive rollout — Supported Intelligence programmers are moving forward on applications for diverse industry and investment scenarios, including oil and gas, mining, finance, investments, and pharmaceuticals. Work is also underway to offer Rapid Recursive on additional platforms, including a cloud based SaaS edition. These versions will be introduced to the market over the next year.