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On Metrics for Information Value Quantification

Thöns, Sebastian LU ; Chadha, Mayank ; Hu, Zhen and Todd, Michael D. (2023) 14th International Workshop on Structural Health Monitoring: Designing SHM for Sustainability, Maintainability, and Reliability, IWSHM 2023 In Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring p.2468-2475
Abstract

In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution... (More)

In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution considerations.

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author
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publishing date
type
Chapter in Book/Report/Conference proceeding
publication status
published
subject
host publication
Structural Health Monitoring 2023 : Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring - Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring
series title
Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring
editor
Farhangdoust, Saman ; Guemes, Alfredo and Chang, Fu-Kuo
pages
8 pages
publisher
DEStech Publications
conference name
14th International Workshop on Structural Health Monitoring: Designing SHM for Sustainability, Maintainability, and Reliability, IWSHM 2023
conference location
Stanford, United States
conference dates
2023-09-12 - 2023-09-14
external identifiers
  • scopus:85182278137
ISBN
9781605956930
DOI
10.12783/shm2023/37017
language
English
LU publication?
yes
id
8a5d9d89-7591-4141-8b0e-dd8a5269e5e8
date added to LUP
2024-02-16 13:52:29
date last changed
2024-02-19 09:05:42
@inproceedings{8a5d9d89-7591-4141-8b0e-dd8a5269e5e8,
  abstract     = {{<p>In this paper, we aggregate, analyze, and exemplify several metrics for the information value. The metrics vary by absolute value, normalizations, or full probabilistic quantification. The normalization of the information value encompasses the division by (1) the expected and maximized utility of the base scenario (usually without additional information), (2) by the system performance, or (3) by the information acquirement costs. The latter can be aligned to the return over investment ratio to support and facilitate SHM system investment decision. With a case study on malevolent attacks to a generic iconic bridge, we exemplify the information value metrics and point to the application ranges and the implications of full distribution considerations.</p>}},
  author       = {{Thöns, Sebastian and Chadha, Mayank and Hu, Zhen and Todd, Michael D.}},
  booktitle    = {{Structural Health Monitoring 2023 : Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring}},
  editor       = {{Farhangdoust, Saman and Guemes, Alfredo and Chang, Fu-Kuo}},
  isbn         = {{9781605956930}},
  language     = {{eng}},
  pages        = {{2468--2475}},
  publisher    = {{DEStech Publications}},
  series       = {{Structural Health Monitoring 2023: Designing SHM for Sustainability, Maintainability, and Reliability - Proceedings of the 14th International Workshop on Structural Health Monitoring}},
  title        = {{On Metrics for Information Value Quantification}},
  url          = {{http://dx.doi.org/10.12783/shm2023/37017}},
  doi          = {{10.12783/shm2023/37017}},
  year         = {{2023}},
}