BALTIMORE, MD, October 2, 2024 – INFORMS Executive Director Elena Gerstmann, Ph.D., FASAE, CAE, has been elected secretary/treasurer of CESSE, The Council of Engineering and Scientific Society Executives. CESSE is an association that convenes senior staff leaders from STEM membership organizations. Through CESSE, these leaders exchange best practices, innovative ideas and strategies for leading their respective organizations to success.
PHILADELPHIA (CBS) -- A strike has officially been called at all ports along the eastern United States, including in Philadelphia.
If you’re in a retail store in early October and are struck by the sudden appearance of holiday gifts, sales, and decorations, you won’t be imagining it. The holiday shopping season may come earlier than ever this year due to several factors, from a short shopping period between Thanksgiving and Christmas to the distraction of a national election.
An audio journey of how data and analytics save lives, save money and solve problems.
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My view of the world is shaped by where I stand, but from this spot the future of analytics for 2016 looks pretty exciting! Analytics has never been more needed or interesting.
Analytics continues to bring dramatic change to the healthcare industry in the United States and other countries, offering advances and challenges for the year ahead. Following are 10 trends to chart in 2016.
David Simchi-Levi, MIT Professor, INFORMS Fellow and Former Editor-in-Chief of Operations Research (INFORMS Journal)
The ability to understand a combination of historical behavior, market conditions and future needs drives decision making. New analytic capabilities that combine machine learning and optimization can take into account historical characteristics and competitor behavior to determine future demand that will allow optimization for the best results - such as profit, market share or revenue.
Examples of decisions where this approach can be used is assortment, pricing, sourcing strategies for new products, predictive maintenance using process sensors.
CATONSVILLE, MD, December 21, 2015 – Small price differences at the point of purchase can be highly effective in shifting consumer demand from high calorie to healthier low calorie alternatives, according to a study in the Articles in Advance section of Marketing Science, a journal of the Institute for Operations Research and the Management Sciences (INFORMS).
During WWII, academics developed “Operations Research” techniques involving statistics and linear programming to hunt enemy submarines, supply troops on the ground and deliver ordnance to targets. Soon after the war ended, Operations Research academics began to apply their methodologies to investing. In 1952 Harry Markowitz, a graduate student at the University of Chicago, published a paper on portfolio selection in the Journal of Finance. Markowitz’s quantitative approach to investment theory was radically different from the conventional stock market wisdom at the time, which focused on picking winning stocks and concentrating stock holdings to maximize return. Investors knew that holding stocks meant taking risks, and they were led to believe that the only way to reduce risk was to become more competent at picking stocks. Some investors were following the advice of Gerald M. Loeb, the co-founder of brokerage firm E.F. Hutton, who wrote “once you obtain competency, diversification is undesirable.” Markowitz’s work along with others gave birth to what is now known as Modern Portfolio Theory (MPT). MPT provided investors quantitative ways to reduce risk and optimize their return.
OR/MS Today is the INFORMS member magazine that shares the latest research and best practices in operations research, analytics and the management sciences.
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Analytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
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