Reference no: EM13798461

Analytics in the Real World

Deliverable:Approximately 3-5 page report, 1.5 spaced describing an analytics, management science or model challenge in the real world and the methods and/or technologies used to solve it. Five (5) references are required which can be a combination of articles or links that support the writing in the report. Exhibits and tables can be included in the text body of the report, and long tables and exhibits can be included as appendices. All writing should be in the third person.

Students may pick any problem or set of problems, in any real-world context, from business (financial, marketing, operations, management, human resources, etc.), science, government or society. The problem should be described in words including the challenge at hand and the implications of effective solutions to managers, customers, clients, tax-payers and/or human society. The problem should be one that is currently being addressed or should be addressed. Students could choose a problem from their place of work or desired industry/job.

The problem(s) should be described in detail This could (should) include the data that is available, the mathematical technique(s) that is(are) applied and the tools (software/hardware) that are used to solve the problem. Indication should be made as to why the technique is appropriate for this particular setting.

The current state of solutions to the problem should be described. Where are modelers and decision makers in the process of finding good/effective solutions? What is limiting the quality of the results if the results are not yet effective? What makes the solutions found useful if they currently are? What are the implications of an effective solution to the problem?

The last section of the report should discuss the future opportunities and challenges of solving the problem. What will help solutions improve? What limitations remain?