BALTIMORE, MD, January 16, 2025 – Intensive care units (ICUs) face mounting pressure to effectively manage resources while delivering optimal patient care. Groundbreaking research published in the INFORMS journal Information Systems Research highlights how a novel artificial intelligence (AI) model is revolutionizing ICU care by not only improving predictions of patient length of stay, but also equipping clinicians with clear, evidence-based insights to guide critical decisions.
Cutting-edge chips, especially those designed to power emerging AI applications, tend to receive the most attention in the media and generate the most excitement. However, so-called “legacy” chips are just as important — if not more — to our daily lives.
January is National Blood Donor Month and, not coincidentally, a time when donations tend to ebb. Every two seconds, someone in the U.S. needs blood for serious injuries, childbirth, cancer treatments and more, according to the Department of Health and Human Services.
An audio journey of how data and analytics save lives, save money and solve problems.
Ashley Smith
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Catonsville, MD
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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.
While you’ll have to determine your own goals and certification needs, let’s look at a handful of important and valuable certifications all IT professionals should consider earning.
CAP certification enables you to understand the entire analytics process. From framing business and analytic problems to deployment and model lifecycle management, you’ll have full knowledge of everything that goes into general analytics by the time you finish this certification process.
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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