Multivariate Statistical Model versus Catastrophe Theory

Multivariate Statistical Model versus Catastrophe Theory

The subject was an important and very strong argument in the seventies.
It is a good theory, but just limited by the number of variables (axes hyperspace).
After came the Chaos Theory, and took over.
Today I think that the application of multivariate statistical model is more useful than both (Catastrophe theory and Chaos theory), in a managing practice.