Formularisation is a noun derived from the verb formularize, which refers to the act or process of creating or developing a formula or set of formulas. It involves the conversion of concepts, principles, or ideas into a systematic and structured format that can be easily understood, applied, or communicated to others.
In various fields such as mathematics, chemistry, physics, and statistics, formularisation plays a crucial role in organizing complex information and theories into concise and universal symbolic representations. It allows scientists, researchers, and professionals to express relationships, equations, and rules in a standardized language, enabling the systematic analysis and solving of problems.
The process of formularisation typically involves the identification of key variables, their interdependencies, and the development of mathematical or logical expressions to represent these relationships. It often requires careful abstraction, simplification, and generalization of information to create a concise and practical formula.
Formularisation also extends beyond the realm of scientific and technical disciplines. In business and finance, for example, it refers to the process of transforming various economic factors, market trends, and performance indicators into mathematical models or algorithms that can help predict future outcomes, optimize decision-making processes, or facilitate risk assessments.
Overall, formularisation is a cognitive and analytical process that facilitates the conversion of complex concepts or information into systematic and solvable formulas, contributing to the advancement of knowledge and the practical application of theories in various fields.
