Data and decisions
As the world becomes increasingly data-driven and complex, the ability to harness large amounts of data to make informed decisions is essential. Mathematical sciences lay the foundation of this capability.
At the forefront of our research at Heriot-Watt, is the tackling of contemporary research problems. This is evidenced by our recent investigations on understanding the impact of the COVID-19 pandemic, cyber risk management, climate risk modelling and net-zero, as well as adaption and resilience strategies development.
Our Data and Decisions theme is leading both applied and theoretical research specialising in the fields of Actuarial and Financial Mathematics (AFM), and Statistics, working closely in collaboration.
Located in Edinburgh, one of the largest centres for financial services in Europe, our AFM research group is world-class, with a broad range of research interests. It has an exceptional record of engagement with governments, industry, local authorities, and end users of our research, leading to positive changes and impact.
The UNL Global Research Rankings of Actuarial Science and Risk Management and Insurance 2023, ranked the research by the University’s AFM group first in the UK and sixth internationally, among non-business schools. Our research has made significant scientific contributions in mortality, longevity and morbidity analysis, life and health insurance and products, as well as pensions and social security.
Innovations include: the creation of a substantial database for UK government bonds, with support from the Institute and Faculty of Actuaries; the co-invention of the Cairns-Blake-Dowd (CBD) stochastic mortality model used for modelling, measurement and management of longevity risk; the development of the Longevity Index for England (LIFE) and app, which is core to helping stakeholders measure and understand mortality inequalities.
Our statistics research group specialises in stochastic modelling of biological systems and statistical modelling. Topics include epidemiological modelling and data analysis, epidemic spread in livestock populations, and endemic infection models.
This work has resulted in measurable impact, for example, since 2018, the BORIS computer package, which enables simultaneous estimation of epidemic dynamics and pathogen evolution, has been used as an analytic tool within the New Zealand Ministry of Primary Industries eradication programme for Mycoplasma Bovis, a bacterial disease that affects dairy and beef cattle. Our mathematical modelling research is also helping to stem the tide of our native red squirrel species' decline, having direct impact on policy decisions to protect red squirrels in Scotland and Wales.
Mathematical Sciences are at the core of technological progress, driving innovations in artificial intelligence, data security, and computational modelling that shape critical sectors like finance, healthcare, and engineering. At the School of Mathematical and Computer Sciences (MACS), Heriot-Watt University brings together experts in mathematics, actuarial science, statistics, and computer science to tackle global challenges through interdisciplinary research.
By collaborating with industry and academic partners, MACS plays a pivotal role in supporting Heriot-Watt’s globally renowned research institutes, including The National Robotarium, The Lyell Centre for Earth and Marine Sciences and Technology, The Global Research Institute in Health and Care Technologies, and iNetZ+ Global Research Institute for Net Zero and Beyond. This ensures that MACS research has both theoretical significance and real-world impact, contributing to the university’s mission of advancing global innovation and societal benefit.