Can big data yield big ideas? Blend novel and familiar, new study finds
CATONSVILLE, MD, January 9, 2017 – Struggling to get your creative juices flowing for a new idea or project? A study in an upcoming edition of the INFORMS journal Marketing Science sheds light on the secret sauce to developing creative ideas, and it all comes down to word choice.
2017 INFORMS Franz Edelman Award Finalists Selected from Leading Analytics Teams Around the World
Finalist contributions include innovations in the transportation, health, and manufacturing industries
CATONSVILLE, MD, December 20, 2016 – INFORMS, the leading international association for professionals in operations research and analytics, has selected six finalists for the 46th annual Franz Edelman Award for Achievements in Operations Research and Management Science, the world’s most prestigious award for achievement in the practice of analytics and O.R.
INFORMS President Ed Kaplan Helps Shape the Future of Blood Donation in Israel
CATONSVILLE, MD, December 19, 2016 – Research conducted by the President of INFORMS, Yale Professor Ed Kaplan, regarding the probability of infectious blood entering Israel’s blood supply, played a pivotal role in recent revisions to Israeli policy regarding blood donation. Kaplan’s research, based on a number of factors including the efficacy of current blood tests, population infection rate, and lab error, contributed to the lifting of a decades-long ban on populations previously deemed high risk in Israel.
Room upgrade programs can increase hotel profits by up to 35 percent
CATONSVILLE, MD, December 16, 2016 – With travelers spending more than $278 billion on accommodations in the U.S. last year, hotel chains that explore creative new ways to engage customers have the potential to significantly increase their profits. Standby upgrade programs are an innovative way for hotels to increase annual revenue by as much as 35 percent while also filling frequently unused premium rooms, creating awareness for unique room features, and improving guest satisfaction and loyalty. However, new research in an upcoming edition of the INFORMS journal Manufacturing & Service Operations Management finds that the success of a standby upgrade program is directly tied to the type of guests who frequent the hotel, and the types and quantity of rooms available.
2016 Wagner Prize Recognizes Research to Improve Safety of Driving Routes for Heavy Trucks
CATONSVILLE, MD, December 12, 2016 – Every day millions of people rely on GPS to navigate to and from locations around the world. But what happens if you must frequently travel through an area that is accessed primarily by private roads, or you drive a vehicle that cannot safely navigate on certain routes? For their work in identifying a solution to this problem, Mikael Rönnqvist of the Université Laval, Canada; Gert Andersson, Gunnar Svenson, and Patrik Flisberg of the Forestry Research Institute of Sweden; and Lars-Erik Jönsson of the SDC, Sundsvall, Sweden, were presented the Daniel H. Wagner Prize for Excellence in Operations Research Practice by INFORMS, the leading professional association for analytics and operations research.
Sellers 3.5 Times More Influential than Buyers in Driving the Growth of E-commerce Platforms
CATONSVILLE, MD, November 30, 2016 – E-commerce platforms, such as Uber and eBay, which link sellers and buyers, face the perennial dilemma of what is more lucrative, supporting the needs of the buyers or the sellers. The traditional belief has been that it is more important to focus on buyers, who create demand, than on sellers. A forthcoming study in the INFORMS journal Marketing Science sheds new light on this dilemma with the discovery that sellers are in fact 3.5 times more impactful than buyers in driving growth of e-commerce platforms. The study’s findings provide valuable insight that will enable the managers of these platforms to make policy adjustments that will further incentivize sellers.
Carefully choosing your words in a fundraising appeal can increase donations by over 300 percent
CATONSVILLE, MD, November 2, 2016 - A forthcoming study in the INFORMS journal Marketing Science, based on the psychology of sympathy, shows that small changes in the wording of a fundraising letter can increase donations by over 300 percent.
CAP Program Launches New Certification for Early Career Analytics Professionals
New Associate CAP Program features 7 University Analytics Program Partners Across US and Canada
CATONSVILLE, MD, October 20, 2016 – As businesses, industries, and other organizations exponentially increase their use of analytics to improve their operations and performance, they face additional challenges of identifying, recruiting and retaining the very best analytics talent. Since its inception in 2013, the Certified Analytics Professional (CAP®) program has enabled hundreds of organizations across 20 different countries (including 20 percent of the Fortune 100) to meet those challenges through its rigorous process of certifying top experienced analytics professionals. Now, the CAP program is helping organizations expand that ability to top early career professionals with the launch of its new Associate Certified Analytics Professional (aCAP™) program.
It pays to go beyond the last word when advertising using Google AdWords
Don’t just bid on the last searched keyword that led to clicks or sales.
CATONSVILLE, MD, October 11, 2016 – As search advertising gains share in advertising budgets, the decision on which keywords to bid on has gained in importance among marketers – both big and small. An often debated question is: Should marketers prioritize advertising on the last keyword or the first keyword that a customer searched that led to clicks and sales? There is no obvious answer to the question. While last touched keywords attract customers who know what they want, first touch keywords help bring in customers who are beginning to explore the category. A forthcoming article in the INFORMS journal Marketing Science compares advertising strategies based on last touch and first touch keyword effectiveness metrics and finds that while the return on investment (ROI) of a last touch strategy is 5 percent more than a first touch strategy, a strategy based on weighting the two metrics improves ROI by another 5 percent.
Betting Your Favorite to Win
We examined whether people reduce the impact of negative outcomes through emotional hedging—betting against the occurrence of desired outcomes. We found substantial reluctance to bet against the success of preferred US presidential candidates and MLB, NFL, NCAA basketball, and NCAA hockey teams. T
Applications Now Being Accepted for the 45th Annual Franz Edelman Award
CATONSVILLE, MD, October 5, 2016 – INFORMS, the leading international association for professionals in operations research and analytics, is accepting now applications for the 45th annual Franz Edelman Award for Achievements in Operations Research and Management Science, the world’s most prestigious award for achievement in analytics and operations research.
New online library illustrates impact of analytics on healthcare
CATONSVILLE, MD, September 28, 2016 – From fighting disease and treating patients, to managing hospitals, driving insurance, and guiding virtually every aspect of the healthcare system, the use of analytics and operations research methods are dramatically altering the healthcare landscape.
Consumers may search online for 30 days, but buy close to what they found on the first day
CATONSVILLE, MD, September 2, 2016 – Given the ease of online search, consumers can explore and discover hundreds of available items in any category. Retailers and advertisers are keen to influence the search and final purchase through better product recommendations and targeted advertising. A forthcoming article in the INFORMS journal Marketing Science studies online search and purchase behavior of consumers in the digital camera category and finds that even though consumers may search for extended periods of time, what they purchase tends to be remarkably close to items they searched and found in their very first search.
Tweets better than Google Trends at forecasting TV program ratings
CATONSVILLE, MD, August 1, 2016 – How well does the emotional and instantaneous content in tweets perform relative to the more deliberate searches recorded in Google Trends in forecasting future TV ratings? In a massive big data analysis using data from Twitter, Google Trends and other widely used websites for entertainment information, a forthcoming article in the INFORMS journal Marketing Science finds that mining Twitter content is significantly more effective than Google Trends in its ability to predict future TV ratings.
Are there better deals than the “Minimum Advertised Price?” More often than you think.
CATONSVILLE, MD, June 10, 2016 - Certain products like Bose headphones and Sonos speakers never seem to be advertised below a certain price. That is because many manufacturers insist on a minimum advertised price (MAP) for their products. Ever wondered if it is worth searching for a lower price for such products? Using data from manufacturers across a range of industries, a forthcoming article in the INFORMS journal Marketing Science finds that it may actually pay to search as prices below the MAP are fairly common not just across unauthorized retailers, but even across authorized retailers.
Is my brand image green or healthy? No need for costly surveys, just ask Twitter!
CATONSVILLE, MD, April 18, 2016 – What do Toyota, Aveda, and Clif Bar have in common? A forthcoming article in the INFORMS journal Marketing Science finds that Twitter fans of these brands are all more likely to follow accounts that tweet about the environment. This in turn creates a greener image than other brands in their sectors.
General Motors Awarded 2016 INFORMS Prize for Operations Research
ORLANDO, Fla., April 12, 2016 – The Institute for Operations Research and the Management Sciences (INFORMS®), the leading association for analytics professionals, announced that General Motors, which is using big data and advanced analytics to predict failure of certain automotive components and systems before customers are affected, is the winner of the 2016 INFORMS Prize for operations research and management science.
INFORMS® Awards UPS Its 2016 Edelman Prize: The Leading Award in Analytics and Operations Research
ORLANDO, FL, April 11, 2016 – The Institute for Operations Research and the Management Sciences (INFORMS®), the leading association for analytics professionals, announced it has awarded UPS its 2016 Franz Edelman Award for Achievement in Operations Research and the Management Sciences.
The Future of Innovation through Analytics and Operations Research to Converge in Florida this April
ORLANDO, FL, March 17, 2016 – Nearly 1,000 of the leading minds and visionaries in the fields of analytics and operations research will converge in Orlando, Florida, April 10-12 for a unique conference dedicated to mastering business analytics strategies and tactics that drive innovation and benefit society in new and exciting ways.
No Credit History? New Study Says No Problem
CATONSVILLE, MD, March 15, 2016 – When it comes to getting a loan – even for those without a credit history – it helps to have financially responsible friends on one’s social network, according to a new study forthcoming in the INFORMS journal Marketing Science.