Mathematics, statistics and data
Every mathematics, statistics and data method in the STEM Commons, its steward platform and how widely it is applied.
- 01In briefThe short answer
- 02Mathematics, statistics and data14 methods
- 03The mathematics strandInference, uncertainty, dependence and decision
- 04Key termsTerms used on this page
- 05SourcesWhere this page's references lead
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The short answer.
The mathematics, statistics and data strand of the STEM Commons is the group of canonical mathematics, statistics and data methods the Nexus network relies on, from probability and statistics to game theory and mechanism design. Each method has one page, a steward platform such as Systems Science and Modelling as well as Reinsurance and Catastrophe, and a list of the platforms that apply it, so a finding can name what it rests on.
Digital demand and connectivity in East Asia.
Urban demand centres and the hubs that anchor digital and data infrastructure, shown for East Asia as an example geography for this subject.
14 methods.
- Probability and statisticsStewardSystems Science and Modelling13Platforms applying it
- Extreme value theory and tail riskStewardReinsurance and Catastrophe6Platforms applying it
- Uncertainty quantification and model validationStewardSystems Science and Modelling8Platforms applying it
- Network science and contagionStewardSystems Science and Modelling15Platforms applying it
- Complex systems and agent-based modellingStewardSystems Science and Modelling6Platforms applying it
- Optimization and operations researchStewardSystems Science and Modelling9Platforms applying it
- Causal inference and impact evaluationStewardEconomic Development8Platforms applying it
- Forecasting and time-series analysisStewardClimate and Hazards7Platforms applying it
- Scenario design and stress testingStewardSystemic Risk Management9Platforms applying it
- Decision analysis under uncertaintyStewardSystemic Risk Management14Platforms applying it
- Actuarial mathematicsStewardActuarial and Quantitative Risk5Platforms applying it
- Spatial statistics and geostatisticsStewardSpace and Earth Observation8Platforms applying it
- EconometricsStewardEconomic Development9Platforms applying it
- Game theory and mechanism designStewardPolicy Nexus3Platforms applying it
Inference, uncertainty, dependence and decision.
The mathematics strand holds the methods that turn data and models into statements with known uncertainty, and those statements into choices. For systemic risk the hardest parts are tail dependence (rare events that happen together), deep uncertainty (where probabilities themselves are contested) and causal identification (knowing what an intervention changed).
| Challenge | Methods |
|---|---|
| Rare joint events | Extreme value theory, copulas |
| Contagion | Network science |
| Deep uncertainty | Decision analysis, scenario design |
| What worked | Causal inference |
Terms used on this page.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| STEM Commons | The shared reference of science, technology, engineering and mathematics methods for the Nexus network, hosted by GCRI, with one canonical page per method and a named steward platform. |
| Steward platform | The platform that maintains the canonical description of a method in the STEM Commons and reviews how other platforms apply it. |
| Probability and statistics | Probability and statistics provide the mathematical framework for describing uncertainty and learning from data. |
| Extreme value theory and tail risk | Extreme value theory and tail risk study the behaviour of rare, high-impact events. |
| Uncertainty quantification and model validation | Uncertainty quantification and model validation characterise how uncertainty in inputs, parameters and model structure affects predictions. |
Where this page's references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
Pages in Mathematics, statistics and data.
Probability and statistics
MethodExtreme value theory and tail risk
MethodUncertainty quantification and model validation
MethodNetwork science and contagion
MethodComplex systems and agent-based modelling
MethodOptimization and operations research
MethodCausal inference and impact evaluation
MethodForecasting and time-series analysis
MethodScenario design and stress testing
MethodDecision analysis under uncertainty
MethodActuarial mathematics
MethodSpatial statistics and geostatistics
MethodEconometrics
MethodGame theory and mechanism design
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