Have you ever worked through an intricate trigonometric problem in school and thought that it would never be used in real life? If so, you may be surprised to know that advanced mathematical models play an important role in modern technology. They can be used to predict financial trends, optimize healthcare delivery, and more. In this article, we will look at some of the ways in which advanced math is changing the way we live and the way we use technology.
Risk Analysis and Market Trends in Finance
Mathematical models are also referred to as financial mathematics. They are used in financial markets to measure risk and market movements. Specifically, they identify correlations between a broad range of economic factors, such as:
- Interest rates
- Market movements
The use of quantitative tools enables finance professionals to gain a better understanding of the current and future market conditions, to draw on information from past market conditions, and to determine whether the risk associated with a transaction or purchase is worth the reward. For most users, these calculations occur completely behind the scenes and are integrated into the user interface of a program. You can reap the benefits of mathematical models without having to do any actual calculations yourself.
Mathematical Modeling in Disease prediction
If ever there was a time when public health was important, it’s certainly after 2020. The coronavirus continues to evolve and mutate. The silver lining is that modern physicians and scientists have access to cutting-edge mathematical tools that make it easier for patients across the country to analyze disease progress and treat it effectively. Disease prediction in particular is extremely useful for creating treatment plans and in some cases, predicting how much “quality time” patients have left.
Treatment Optimization in Healthcare
Healthcare is an ever-growing and ever-changing industry. Canada is no different. The demand for efficient treatment options delivered by skilled medical professionals is among the highest in the world.
- Mathematical models can help streamline and streamline healthcare delivery by looking at service quality, usage and productivity as reported by a particular workforce.
Care optimization is a way to optimize the care provided to each patient without overburdening nurses and other healthcare professionals.
Mathematical Modeling in Streamlining production processes
No matter how many resources you have, manufacturing material goods can be a complex process. If you spend too much money on one part of the process, it can disrupt the others and lead to missed deadlines and weak quality control.
On the other hand, spending too little money on one part can lead to the same issues. The goal is to identify the’sweet spot’ of a design and the manufacturing processes used to make it. Once you understand how the materials and their properties (strength, conductivity, stiffness, etc.) affect manufacturing, you will be able to optimize the time you need to spend manipulating materials into the goods you want to produce.
In manufacturing and production, mathematical models are used to analyze the amount of material you need, the type of material you need and how you need to design and manufacture each material to meet your client’s goals.
Mathematical Modeling in Online gaming
Mathematical modelling is also used in games. This is the case for most games, though it may be especially true of online slots. There are several ways in which mathematics drives slot machines. Most notably, it drives the user experience.
Players try to land certain symbols on reels, form a combination of these symbols on a particular payline. They also understand a game’s volatility/rTP as soon as they place their wager and begin playing.
Mathematical models determine the probability of a certain symbol landing, the number of times players will win, the amount of money they will win and even the design of the reels or paylines. More generally, mathematical modelling plays an important role in virtually any online game. From text adventure games to roguelike dungeon crawlers, and everything in-between, mathematical models control many of the game’s unique features and basic gameplay.
The bottom line
Do you want to learn more about the impact of mathematical models on the world and technology today? Use the above topics as a starting point and explore more in-depth sources in the fields that interest you.