“You can’t go back and make a new start, but you can start right now and make a brand new ending.” -CS Lewis (or James Sherman)
A deterministic system is a system in which no randomness is involved in the development of future states of the system. A deterministic model will thus always produce the same output from a given starting condition or initial state.
The idea of using a model to determine behavior is hardly a new concept. Taking the model of tenants in a building renting space and recognizing that the only deterministic model is that one day the tenant WILL move out is also hardly a novel idea. However, using entropy in combination with the stochastic model of tenant happiness (or resignation) might just be something new.
The systems studied in chaos theory are deterministic. If the initial state were known exactly, then the future state of such a system could theoretically be predicted. However, in practice, knowledge about the future state is limited by the precision with which the initial state can be measured, and chaotic systems are characterized by a strong dependence on the initial conditions. This sensitivity to initial conditions can be measured with Lyapunov exponents.
However we may be able to harness the effect of a Markov chain to begin to reign in the randomness and actually map ideas, concepts, emotions and anecdotes which serve to increase the happiness of a tenant (and better yet a group of tenants).
In the next few months we will be working with our partners to continue development of software which will seek to identify and meter the entropy associated with the stochastic system of Property Management and tenant happiness to create a window into a new way to manage your property.