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Recent News

Lehigh Univ., Pennsylvania Department of Corrections win Wagner Prize

Nearly 100 unique factors have to be considered during the complicated task of assigning inmates to any of the Pennsylvania Department of Corrections’ 25 facilities. What once took seven employees nearly a week to accomplish can now be completed in less than 10 minutes at an expected savings of nearly $3 million, thanks to an algorithm created by a team of Lehigh University students and professors and the Pennsylvania Department of Corrections. Read more →

Survey: Despite the hype, AI adoption still in early stages

The hype surrounding artificial intelligence (AI) is intense, but for most European businesses surveyed in a recent study by SAS, adoption of AI is still in the early or even planning stages. The good news is, the vast majority of organizations have begun to talk about AI, and a few have even begun to implement suitable projects. There is much optimism about the potential of AI, although fewer were confident that their organization was ready to exploit that potential. Read more →

Data professionals spend almost as much time prepping data as analyzing it

Nearly 40 percent of data professionals spend more than 20 hours per week accessing, blending and preparing data rather than performing actual analysis, according to a survey conducted by TMMData and the Digital Analytics Association. More than 800 DAA community members participated in the survey held earlier this year. The survey revealed that data access, quality and integration present persistent, interrelated roadblocks to efficient and confident analysis across industries. Read more →

Higher education CIOs expect significant business changes due to technology

Higher education CIOs recognize that key organizational priorities are enrollment and student success, but fail to show innovation with regard to the top technologies required to differentiate themselves and win, according to a survey from Gartner, Inc. Yet, a majority of respondents (59 percent) think there will be significant business model change due to digital transformation. Read more →

Crowdsourcing Analytics

Harnessing the wisdom of crowds: Online resource shares impact of analytics

From reporting traffic jams using the Waze app to a colony of ants working together to achieve extraordinary feats, examples of crowdsourcing and collective intelligence are all around us. As the problems that we face grow in complexity, the speed and reach of communications and data flow are vastly improving now that just about anyone can act as a consultant on a problem by providing their own individual expertise and information. Read more →

Analytics Society of INFORMS

Get in the game: coach a champion IAAA team

The 2018 Caterpillar and INFORMS Analytics Society Innovative Applications in Analytics Award (IAAA) competition is underway. By Nov. 15, the award’s judging panel will select six finalists from among 28 submissions. Each finalist team will be assigned a coach. Read more →

Industry News

INFORMS Initiatives

Applications for the INFORMS Prize due soon

The INFORMS Prize is awarded for effective integration of advanced analytics and operations research/management sciences (OR/MS) in an organization. The award given to an organization that has repeatedly applied the principles of advanced analytics and OR/MS in pioneering, varied, novel and lasting ways. Organizations in the public and private sectors are eligible. Applications for the 2018 INFORMS Prize are due by Dec. 1, 2017. Read more →

Applications for UPS George D. Smith Prize due Oct. 31

Is your institution excelling at producing the next generation of analytics professionals? The UPS George D. Smith Prize is awarded annually to an academic department or program for effective and innovative preparation of students to be good practitioners of OR/MS and analytics. Read more →

Recent Features

Modern machine-learning-powered anomaly detection systems can finally meet the needs that traditional BI dashboards never will. Photo Courtesy of 123rf.com | © Roland IJdema

Eyes on the road, not dashboards

Car dashboards are simple visual indicators of a complex machine with many parts that performs a high-stakes task in a context of many overlapping, conflicting rules and goals: personal convenience, safety, minimum travel time, courtesy to other drivers and so on. The speedometer, perhaps one of the most important indicators, serves one key purpose: to show how fast you’re going, mainly so you avoid getting a ticket. Often the biggest indicator on the display, its job is not to teach the physics of motion or of many-body collisions (although if you stare only at the speedometer, you will certainly gain firsthand experience in the latter), but to give you just enough information to remain compliant with one of the main rules of the road. Read more →

Sales data take on new meaning and reveal new understanding when examined on some type of relative basis. Photo Courtesy of 123rf.com | © christianchan

Basic sales analysis

Most companies have massive databases of historical sales data, but few firms invest the money and staff time to mine the intelligence hidden in those databases. It seems that everyone has sales data, but almost no one does a good job of analyzing that data. The purpose of this article is to present some basic ideas on sales analysis that might serve as a starting point for any novice who might be assigned the task of analyzing a firm’s sales data. The discussion is written from the perspective of sales data at a manufacturing company, but the concepts apply equally to retailers and service companies. Read more →

The first thing to know about sampling methods is that there are two main types: “probability” and “non-probability” methods. Photo Courtesy of 123rf.com | © iamnee

Survey sampling

Every 10 years, Americans receive a familiar questionnaire in the mail known as the population census. This massive undertaking is an attempt to survey every citizen and is typically used to understand the changing demographics of the country. While a census like this might be the most accurate method of research, administering a survey to every member of the population is almost always beyond the scope of a standard marketing research study. Read more →

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Analytics Blog

Electoral College put to the math test


With the campaign two months behind us and the inauguration of Donald Trump two days away, isn’t it time to put the 2016 U.S. presidential election to bed and focus on issues that have yet to be decided? Of course not.


Headlines

Three keys for organizations to gain value from information

In the current information-driven society and increasingly digitalized world, Gartner, Inc. says that sentiments are shifting from the economics of tangible assets to the economics of information – “infonomics” – and other intangible assets. Infonomics is the theory, study and discipline of asserting economic significance to information. It strives to apply both economic and asset management principles and practices to the valuation, handling and deployment of information assets.  Read more →

Burtch Works study on ‘Salaries of Predictive Analytics Professionals’

According to the recently released Burtch Works study on “Salaries of Predictive Analytics Professionals 2017,” senior-level executives saw the largest increase in salaries from 2016 to 2017, and industry diversification of employment has diluted the concentration of such professionals from financial services and marketing/advertising to consulting and technology. Read more →

New study asks, ‘Is your business AI-ready?’

Despite fears that robots will replace human labor, the majority of artificial intelligence (AI) leaders (79 percent) expect their employees will work comfortably with robots by 2020, according to a new Genpact survey of C-Suite and senior executives titled, “Is Your Business AI-Ready?” Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

2017 Winter Simulation Conference (WSC 2017)
Dec. 3-6, 2017, Las Vegas

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.