1. BUSINESS INFORMATICS
ASSIGNMENT NO.1
DIGVIJAY VERMA
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As per the requirements of the assignment, following are the examples to the following ten selected problems:
1. The number of variables involved is typically (much) larger
Example: The factors leading to financial and economic stabilities or instabilities like inflations, debts, taxes, inflow –
outflow of money, personal expenses etc.
2. The relevant variables and parameters are often unknown and hard to measure (the existence of “unknown
unknowns” is typical)
Example: The factors leading to identify consumption habits or let’s say to identify obesity, smoking habits, reasons
for not having proper diets or unhealthy consumption.
3. The time scales on which the variables evolve are often not well separated from each other
Example: This may be justified by giving examples of changes in the social system and behaviours leading to changes
in consumer attitudes and consumption patterns, mutual trusts and co-operations, setting up new value system and
solidarity.
4. The statistical variation of measurements is considerable and masks laws of social behavior, where they exist (if
they exist at all)
Example: Various instances of international operations for peace and security justify this which covers certain
conflicts, movements, strikes, terrorism, wars etc.
5. The observer participates in the system and modifies social reality
Example: This can be proven by setup of various institutional designs and IPR’s, rules and regulations, changing
patterns of corruption etc.
6. Factors such as a large degree of randomness and heterogeneity, memory, anticipation, decision making,
communication, consciousness, and the relevance of intentions and individual interpretations complicate the
analysis and modelling a lot
Example: This again covers collective opinions and social behaviour dynamics like change in consumer preferences,
changing patterns of trust, cooperation, values in the society.
7. The “rules of the game” and the interactions in a social or economic system may change over time, in contrast to
what we believe to be true for the fundamental laws and forces of physics
Example: This may refer to change in power polarity in the world politics or change in the economy conditions like
monopoly etc.
8. In particular, social systems are influenced by normative and moral issues, which are variable
Example: This depends upon various economic, social and political aspects of the population ranging from varied
demographics, culture, health, education etc
2. 9. The same applies to human features such as emotions, creativity, and innovation
Example: This can refer to changes in the demographic pattern like change in the unemployment rate or birth rate etc.
10. Interaction effects are often strong, and emergent phenomena are ubiquitous (hence, not understandable by the
measurement and quantification of the individual system elements)
Example: This again can be understood by mutual trusts between two groups which may lead to violation of privacy
data in case it is broken.
