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Analytics Magazine

Tag "decision"

Service as a Software: A new paradigm

    Service as a Software: A new paradigm

In the short span of a few decades, the world of data-driven decisions has gone through a significant transformation at a bewildering speed. The cause can be linked to the hastening change in the business environment, as well as the rise and proliferation of connected devices, which continue to yield enormous amounts of data.

Software has been a boon to enabling and scaling analytics for decision support in large organizations. But, the two main paradigms of software development – packaged software that enables scale for repeatable, well-defined problems and the traditional services model where we develop custom solutions to solve specific business problems – have limitations; that is, a lack of flexibility in the first instance and the inability to scale in the second.

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Decision Analysis Survey

    Decision Analysis Survey

Fifty years have elapsed since the founding of the field of decision analysis by Howard Raiffa and Ron Howard. 2016 is not only a milestone year due to the anniversary but also because it marks the passing of one of the founders, Howard Raiffa. Such significant events make this year a time for reflection. Seasoned decision analysts can celebrate their contributions to the advancement of the field, while young operations research (O.R.) and analytics professionals should take this time to imagine how their current and future contributions will shape the next 50 years of the field.

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How to pick a business partner

    How to pick a business partner

The information explosion has led organizations to leverage data to improve the overall decision-making process. Organizations are looking to deploy data-driven strategies across their business processes and functions, such as marketing, risk, supply chain and finance. It’s critical now more than ever to have the right people, processes, methodologies, platforms and infrastructure that enable the institutionalization of analytics. In response to this a wide a range of players have come forth to help organizations with analytics.

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Headlines

Using machine learning and optimization to improve refugee integration

Andrew C. Trapp, a professor at the Foisie Business School at Worcester Polytechnic Institute (WPI), received a $320,000 National Science Foundation (NSF) grant to develop a computational tool to help humanitarian aid organizations significantly improve refugees’ chances of successfully resettling and integrating into a new country. Built upon ongoing work with an international team of computer scientists and economists, the tool integrates machine learning and optimization algorithms, along with complex computation of data, to match refugees to communities where they will find appropriate resources, including employment opportunities. Read more →

Gartner releases Healthcare Supply Chain Top 25 rankings

Gartner, Inc. has released its 10th annual Healthcare Supply Chain Top 25 ranking. The rankings recognize organizations across the healthcare value chain that demonstrate leadership in improving human life at sustainable costs. “Healthcare supply chains today face a multitude of challenges: increasing cost pressures and patient expectations, as well as the need to keep up with rapid technology advancement, to name just a few,” says Stephen Meyer, senior director at Gartner. Read more →

Meet CIMON, the first AI-powered astronaut assistant

CIMON, the world’s first artificial intelligence-enabled astronaut assistant, made its debut aboard the International Space Station. The ISS’s newest crew member, developed and built in Germany, was called into action on Nov. 15 with the command, “Wake up, CIMON!,” by German ESA astronaut Alexander Gerst, who has been living and working on the ISS since June 8. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

INFORMS Computing Society Conference
Jan. 6-8, 2019; Knoxville, Tenn.

INFORMS Conference on Business Analytics & Operations Research
April 14-16, 2019; Austin, Texas

INFORMS International Conference
June 9-12, 2019; Cancun, Mexico

INFORMS Marketing Science Conference
June 20-22; Rome, Italy

INFORMS Applied Probability Conference
July 2-4, 2019; Brisbane, Australia

INFORMS Healthcare Conference
July 27-29, 2019; Boston, Mass.

2019 INFORMS Annual Meeting
Oct. 20-23, 2019; Seattle, Wash.

Winter Simulation Conference
Dec. 8-11, 2019: National Harbor, Md.

OTHER EVENTS

Advancing the Analytics-Driven Organization
Jan. 28–31, 2019, 1 p.m.– 5 p.m. (live online)

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