This paper has two parts. In the first part, I articulate the short but significant evolution of the study of fractals. In the second part, I discuss the application of fractals to business models and business analytics. "Clouds are not spheres, mountains are not cones, coastlines are not...

This paper presents both estimation and simulation as optimization problems that differ in the optimization criteria, minimization of a local expected loss for estimation and reproduction of global statistics (semivariogram, histogram) for simulation. An intermediate approach is proposed whereby...