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What is Stochastic Process

Handbook of Research on Web Log Analysis
A process that is probabilistic rather than deterministic in behavior. In the current context, a user state can be estimated but not determined with certainty when a sequence of previous states is available (e.g. a partial transaction log)
Published in Chapter:
Historic Perspective of Log Analysis
W. David Penniman (Nylink, USA)
Copyright: © 2009 |Pages: 21
DOI: 10.4018/978-1-59904-974-8.ch002
This historical review of the birth and evolution of transaction log analysis applied to information retrieval systems provides two perspectives. First, a detailed discussion of the early work in this area, and second, how this work has migrated into the evaluation of World Wide Web usage. The author describes the techniques and studies in the early years and makes suggestions for how that knowledge can be applied to current and future studies. A discussion of privacy issues with a framework for addressing the same is presented as well as an overview of the historical “eras” of transaction log analysis. The author concludes with the suggestion that a combination of transaction log analysis of the type used early in its application along with additional more qualitative approaches will be essential for a deep understanding of user behavior (and needs) with respect to current and future retrieval systems and their design.
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Use of Finite Markov Chains in Business Problems Involving Decision Making and Case-Based Reasoning
A process depending on a family of random variable that take values from probability distributions. Usually, the random variables are associated with or indexed by a set of numbers, viewed as points in time and giving the interpretation of the stochastic process.
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Markovian Reliability in Multiple AGV System
A statistical process involving a number of random variables depending on a variable parameter (which is usually time).
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An Overview of Tourism Supply Chains Management and Optimization Models (TSCM – OM)
A collection of random variables, representing the change of some system of random values over time. This is the probabilistic counterpart to a deterministic process (or deterministic system). Instead of describing a process which can only evolve in one way, in a stochastic or random process there is some indeterminacy: even if the initial condition (or starting point) is known, there are several (often infinitely many) directions in which the process may emerge.
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Wind Loads on Structures, and Energy Dissipation Systems Optimization
A stochastic or random process is a phenomenon usually defined as a collection of random variables.
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