Complexity: What’s in a name?
Thursday, 25 November, 2010 Leave a comment
A widely accepted definition of complexity doesn’t exist. But that isn’t likely to stop any number of Consultancy firms selling services tailored to their own particular interpretation and “solution”.
Numerous Academic institutions dedicate considerable talent and resource to the study of complexity across disciplines.
Many of the “definitions” you are likely to come across convey an impression that complexity is a “twilight zone between chaos and order”! Hardly helpful when it comes to communicating on a subject that is already pretty abstract for many people familiar with message conventional (but limited) disciplines, such as statistical and actuarial analyses, risk rating or management associated with financial risk.
At Ontonix we prefer to stick to what we know. We have a clear, concise, scientific definition that has been rigorously tested. It is 100% quantitative, model-free and has been applied across disciplines and domains.
Complexity in the engineering context is not a phenomenon on the edge of chaos; it is an attribute of any system, just like energy, or momentum. The fact that we have been able to translate this “hard science” approach for wider, commercial, application is truly ground-breaking…