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Also Inside: • O.R INNOVATIVE EDUCATION: Back-to-school special issue August 2015 Volume 42 • Number 4 ormstoday.informs.org Great Expectations The sky’s the limit for quant grads, but will their education match their lofty goals? • Analytics and the MBA curriculum • Teaching professional practitioners • Competitive simulations: game on • Introducing analytics to adolescents • Profiles of 2015 UPS Prize finalists Also Inside: • O.R. takes on ‘Grand Challenges’ • Roundtable profile: Analytics at IDA Shell unlocks the benefits of optimization with AIMMS The team at Shell Global Solutions Their AIMMS-based decision-support tool, GMOS/ has driven optimization solutions with NetSim has contributed to millions of dollars in AIMMS since 2003. cost savings. This valuable tool has helped Shell define an optimal asset structure, and within that achieve: “GMOS has helped us to optimize our supply chain and select the feedstock with • Optimal sourcing of raw materials, the best commercial terms at any given time. • Optimized manufacturing volumes by plant, driven The folks in the petrochemicals business through tiered pricing really trust this tool to help them make • Enhanced decision support for manufacturing the right decisions.” Jim Nastoff, Strategy locations and logistics distribution costs Manager at Shell Experience the power and ease of use of AIMMS for yourself. Contact [email protected] to get a FREE 30-day trial. Award winning software company AIMMS works with half of the Fortune 500 companies to optimize their businesses, making them even more successful. AIMMS_June2015.indd 1 5/26/15 2:38 PM Lindo Systems_August2015.indd 1 7/24/15 10:47 AM Contents August 2015 | Volume 42, No. 4 | ormstoday.informs.org On the Cover Setting lofty goals Quant grads can expect to be greeted by a red-hot job market. Will the skills they learned in school match real-world job demands? 22 Image © ximagination | 123rf.com Special Issue: Innovative Education departments 22 Analytics and the MBA program core 6 Inside Story By Peter C. Bell 8 President’s Desk Why it is essential for every future manager to have an 10 Issues in Education understanding of analytics and data. 12 INFORMS in the News Teaching the professional practitioner 14 INFORMS Initiatives 26 16 Viewpoint By Jason R. W. Merrick How prize-winning VCU professor found success by focusing on 18 PuzzlOR students’ learning rather than his teaching. 20 Perspectives 59 Industry News Competitive simulations: game on 30 61 Classifieds By Bernardo Pagnoncelli and Abraham Seidmann Experiential learning offers students “bridge to reality” with goal to 64 ORacle be the best manager among your peers. 34 Introducing analytics to adolescents 12 By Kenneth Chelst Are you smart enough to teach O.R. to a third-grader? How business analytics can reframe simple K-8 math problems. Profiles of UPS Prize finalists 38 By Harish Krishnan, et al. Trio of programs recognized for effective, innovative preparation of O.R. grad students aiming at practice sector. 2 | ORMS Today | August 2015 ormstoday.informs.org and ApacheSupports Spark Power Big Data BI ANALYTIC SOLVER® PLATFORM Easy to Use, Industrial Strength Predictive Analytics in Excel How can you get results quickly for business decisions, Simulation, Optimization, Prescriptive Analytics. without a huge budget for “enterprise analytics” Analytic Solver Platform also includes decision trees, software, and months of learning time? Here’s how: Monte Carlo simulation, and powerful conventional and Analytic Solver Platform does it all in Microsoft Excel, stochastic optimization for prescriptive analytics. accessing data from PowerPivot and SQL databases. Help and Support to Get You Started. Data Mining, Text Mining, Predictive Analytics – Analytic Solver Platform can help you learn while with Surprising Performance on Large Datasets. getting results in business analytics, with its Guided Point and click to analyze a mix of free-form text and Mode and Constraint Wizard for optimization, and structured data, with text processing, latent semantic Distribution Wizard for simulation. You’ll benefit from analysis, Zipf’s, Scree and Term-Concept scatter plots. User Guides, Help, 30 datasets, 90 sample models, and new textbooks supporting Analytic Solver Platform. Use feature selection and principal components to identify important variables, and k-means clustering or Find Out More, Download Your Free Trial Now. hierarchical clustering to simplify and cluster your data. Visit www.solver.com to learn more, register and download a free trial – or email or call us today. Use exponential smoothing and ARIMA models for forecasting; multiple regression, k-nearest neighbors, and ensembles of regression trees and neural networks for prediction; discriminant analysis, logistic regression, naïve Bayes, k-nearest neighbors, and ensembles of classification trees and neural nets for classification; The Leader in Analytics for Spreadsheets and the Web and association rules for affinity analysis. Tel 775 831 0300 • [email protected] • www.solver.com Frontlinep03-Easy To Use_August2015.indd 1 7/20/15 3:46 PM August 2015 | Volume 42, No. 4 | ormstoday.informs.org INFORMS Board of Directors President L. Robin Keller, University of California, Irvine President-Elect Edward H. Kaplan, Yale University Past President Stephen M. Robinson, University of Wisconsin-Madison Secretary Brian Denton, North Carolina State University Treasurer Sheldon N. Jacobson, University of Illinois Vice President-Meetings Ronald G. Askin, Arizona State University Vice President-Publications Jonathan F. Bard, University of Texas-Austin Vice President- Esma Gel, Arizona State University Sections and Societies 48 Vice President- Marco Luebbecke, Information Technology RWTH Aachen University Other Features Vice President- Jonathan Owen, CAP, General Motors Practice Activities Vice President- Grace Lin, Institute for O.R. takes on ‘Grand Challenges’ International Activities Information Industry 44 Vice President-Membership Ozlem Ergun, By Suvrajeet Sen, et al. Professional Recognition Georgia Institute of Technology Report outlines operations research’s potential role as catalyst for Vice President-Education Jill Hardin Wilson, Northwestern University addressing engineering technological challenges. Vice President-Marketing, E. Andrew “Andy” Boyd, Communications and Outreach University of Houston Roundtable profile: Analytics at IDA Vice President-Chapters/Fora David Hunt, Oliver Wyman 48 By David E. Hunter Editors of Other INFORMS Publications Decision Analysis Rakesh K. Sarin, An inside look at the Institute for Defense Analyses and why University of California, Los Angeles analytics has always played a vital role. Information Systems Research Ritu Agarwal, University of Maryland INFORMS Journal on Computing David Woodruff, University of California, Davis INFORMS Online Kevin Geraghty, 360i INFORMS Transactions Armann Ingolfsson, on Education University of Alberta news Interfaces Srinivas Bollapragada, General Electric Global Research Center Management Science Teck-Hua Ho, National University of Singapore Office of the Deputy President (Research and Technology) 53 Annual Meeting Preview Manufacturing & Service Christopher S. Tang, UCLA Operations Management 54 Candidate’s Position Statement: Marketing Science Preyas S. Desai, Duke University Brian Denton Mathematics of Operations J. G. “Jim” Dai, Cornell University 53 Research 55 Candidate’s Position Statement: Operations Research Stefanos Zenios, Stanford University Les Servi Organization Science Zur Shapira, New York University Service Science Paul P. Maglio, University of California-Merced 56 In Memoriam: John Nash Strategy Science Daniel A. Levinthal, Wharton School, University of Pennsylvania 57 In Memoriam: Matthew Rosenshine Transportation Science Martin Savelsbergh, Georgia Institute of Technology 57 People Tutorials in Operations J. Cole Smith, University of Florida Research 57 Meetings INFORMS Office • Phone: 1-800-4INFORMS Executive Director e Melissa Moor 58 Winter Simulation Conference Headquarters INFORMS (Maryland) 5521 Research Park Dr., Suite 200 58 Revenue Management and Catonsville, MD 21228 USA Pricing Award Tel.: 443.757.3500 Fax: 443.757.3515 E-mail: [email protected] 4 | ORMS Today | August 2015 ormstoday.informs.org and ApacheSupports Spark Power Big Data BI ANALYTIC SOLVER® PLATFORM From Solver to Full-Power Business Analytics in Excel Solve Models in Desktop Excel or Excel Online. Plus Forecasting, Data Mining, Text Mining. From the developers of the Excel Solver, Analytic Solver Analytic Solver Platform samples data from Excel, Platform makes the world’s best optimization software PowerPivot, and SQL databases for forecasting, data accessible in Excel. Solve your existing models faster, mining and text mining, from time series methods to scale up to large size, and solve new kinds of problems. classification and regression trees and neural networks. Easily publish models from Excel to share on the Web. And you can use visual data exploration, cluster analysis and mining on your Monte Carlo simulation results. Conventional and Stochastic Optimization. Find Out More, Download Your Free Trial Now. Fast linear, quadratic and mixed-integer programming is just the starting point in Analytic Solver Platform. Conic, Analytic Solver Platform comes with Wizards, Help, User nonlinear, non-smooth and global optimization are just Guides, 90 examples, and unique Active Support that the next step. Easily incorporate uncertainty and solve brings live assistance to you
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