Winter Simulation Conference
Feb. 19-20, 2015
Data Analytics for Action & Impact:Transforming Data to Goal-Driven Insight for the Data-Rich yet Information-Poor
Special ArticlesINFORMS announces six finalists for 2015 Edelman Award
INFORMS recently announced six finalists representing a diverse collection of applied analytics and advanced operations research work who will compete for the 2015 Franz Edelman Award in a series of judged presentations at the INFORMS Conference on Business Analytics & Operations Research in Huntington Beach, Calif., in April.Read More
Special ArticlesBusiness Analytics and O.R. Conference
The Institute for Operations Research and the Management Sciences (INFORMS) will return to Huntington Beach, Calif., for the 2015 INFORMS Conference on Business Analytics and Operations Research, which will be held April 12-14, 2015, at the Hyatt Regency Resort & Spa. The conference, with the breadth of its coverage and the depth and quality of its presentations, should be of great interest to practitioners of analytics and operations research, whether they work in the public sector or private industry. It will also appeal to academics who are training future analytics practitioners or have research interests that would benefit from exposure to cutting-edge work in industry and government.Read More
CAP NewsWagner Prize presentations available online
Video presentations of the six finalists of the 2014 Daniel H. Wagner Prize for Excellence in Operations Research Practice, won by Ford Motor Company, are now available for viewing.Read More
2012 predictions: banner year for big data, healthcare analytics
The growth of “big data analytics” will outpace all other areas of analytics in 2012 according to the International Institute of Analytics’ (IIA) annual forecast for business analytics, and the healthcare industry will see the greatest increase in the use of analytics.
IIA Director of Research Tom Davenport presented the firm’s view on the challenges and opportunities for users and vendors for 2012 during a live teleconference held in December. “There will be a marked shift in power and influence in 2012 from the CIO’s information technology (IT) function to the analyst,” Davenport says. “The need for IT and analysts to collaborate and compromise for better understanding and appreciation of each other’s challenges will drive the shift.”
According to Davenport, the continued interest in analytics among C-suite executives will be influenced by:
Opportunity: The healthcare industry will see the greatest increase in the use of analytics as providers seek more efficient and effective identification of patient safety hazards.
Growth: The pace of growth in predictive analytics in the cloud, big data and the “nuts and bolts” areas, such as data warehousing, will outpace the demand for analytical talent. Privacy considerations will be a major factor in the evolution of big data analysis.
Application: Social media analytics will follow a similar maturation curve to workforce analytics, merchandise analytics and price optimization, and e-commerce analytics. Big data analytics will dramatically change the 2012 technology landscape as the maturity of technologies, in-memory analytics and data appliances will make it more cost effective to handle large data sets.
Influence: The number of companies advancing along the analytical maturity curve and innovating will be directly proportional to those companies developing and executing on a complete “analytics ecosystem” strategy. Traditional corporate performance management will evolve to business process optimization applications that marry predictive/prescriptive analytics disciplines with business process engineering, process workflow orchestration and social collaboration.
Challenges: Analytics asset management will emerge as a major challenge this year. Analytics data, models, findings and recommendations are corporate assets, and these assets require continuous management in order to deliver a stable source of financial return for firms.
A broadcast of the teleconference is available for IIA members on the IIA website.
[Note: In the upcoming January/February 2012 special issue of Analytics magazine on healthcare, Davenport discusses “analytical integration in healthcare.”]