Axsym was established in 2010 as an engineering consultancy with specialist expertise in the design, analysis and mathematical modelling of rotary systems. Our clients ranged from large multi-national organisations to small and medium enterprises in the aerospace and wind energy sectors.
With support from Innovate UK for innovative software technology development, our services expanded into analysis automation. We demonstrated our automation technology on transport network management and local energy system design. Then to diversify its market reach further we considered the requirements of economic forecasting.
When studying the mathematics of applied economics we were surprised by our findings. The literature informed us that current predictions of economic growth, such as those forecast by central banks, are not mathematically reproducible. This means that a single economist is responsible for any economic prediction and that this prediction cannot be independently verified. So, we considered how to model economy behaviour from the conventional perspective of businesses and households by using engineering and data science analyical methods .