The INFORMS Prize is awarded for effective integration of advanced analytics and operations research/ management sciences (OR/MS) in an organization. The award is to be given to an organization that has repeatedly applied the principles of advanced analytics and OR/MS in pioneering, varied, novel, and lasting ways. The contribution will be judged relative to the impact advanced analytics and OR/MS has had on the overall success of the organization. Thus, a multi-billion dollar firm that has a large analytics/OR/MS staff but integrates analytics/OR/MS techniques only occasionally might be ranked relatively lower than a small firm which uses analytics/OR/MS throughout its business. The award is given primarily based on the impact that analytics/OR/MS has had on the success of the firm.
The award is given each year at the INFORMS Analytics+ Conference. More than one award may be presented in a given year, or if no suitable application is submitted, the INFORMS Prize Committee may choose not to award the prize.
Eligibility
Organizations in the public and private sectors are eligible. The award is to be presented to a key executive in charge of analytics/OR/MS activities within the organization. Outside contractors to a candidate organization are not eligible, unless a proven, dedicated relationship exists over a prolonged time period between the vendor and the client organization. In this case, the client organization and vendor will be co-recipients of the prize, presented to appropriate executives of both organizations.
An organization who has been a previous winner (or co-winner if part of a vendor-client award recipient), may not re-apply for the award within 10 years. This recognizes the balance between the INFORMS Prize being a lifetime achievement award and that organizations evolve and change over time. This also serves to restrict a vendor from winning multiple years, due to a different vendor-client relationship being represented.
Judging Criterion
The Committee will use the following criteria in making judgments:
1. The quality and breadth of O.R. projects across the organization,
2. The visibility and impact of O.R. activities as perceived by the senior management, and
3. The extent to which the use of O.R. has become a frequent decision support approach.
In evaluating these general criteria, the committee considers the following aspects:
Organization Impact
Has O.R. made a significant impact to the organization’s operations? Has O.R. made fundamental changes to the organization’s overall business model and/or organizational structure?
Extent and Sustained Use
Does O.R. permeate the parent organization’s operations and considered integral and of strategic competitive advantage for the organization? Is O.R. used across a broad range of areas within the organization? Do the applications span tactical, operational, and strategic issues? Is O.R. used in a sustained, systemic manner? Are the value of O.R. projects quantified?
Variety of Applications
Does the organization effectively apply a wide variety of O.R. disciplines, including mathematical modeling and optimization, simulation, data mining, data analytics, statistical analysis, decision analysis, and machine learning? Do the applications span multiple functions and business units within the organization? The demonstrated use of a wider set of disciplines and application areas indicates greater extent of impacting the organization.
Visibility and Recognition
Do the endorsements demonstrate strong personal experience with the value of O.R. to the organization’s general and top-level management? Is the value of the organization’s O.R. recognized by external individuals that interface with the organization? Have successes been published or recognized externally (e.g., finalist or winner of the Edelman Award or Wagner Prize)? Management Is there a sense of O.R. being embedded in the client organization? Is there a strong relationship established between the organization’s operations and its O.R. support? How well is O.R. organized and managed within the organization? Are analysts trained, developed, and valued? Overall Quality of Nomination Does the application provide a coherent and well-integrated view of the O.R. within the organization? Does the overview statement summarize the organization’s key strengths in using O.R.?
Application Deadline December 15, 2024
Contact [email protected] for Questions.
Applications shall be made by means of a submission packet which provides a description of the analytics/OR/MS activities performed and the effect these activities had on the economic (or other) well-being of the organization.
Applications should include:
- A summary description (1-3 pages) of the scope scale and impact of analytics/OR/MS activities in the organization;
- More detailed descriptions (1 page each) of 2-3 major analytics/OR/MS projects and their impact. Projects must include substantiated, quantifiable results on costs, profits, market share or other measures meaningful to the overall performance of the firm; and
- Letters of support and appreciation for analytics/OR/MS methodology, studies and projects from senior executives in the organization. A list of publications, prizes, etc...of the members of the team may also be included.
Winners are typically notified by the middle of March of the prize year.
A statue will be given to the organization and presented to a senior level executive at the INFORMS Analytics+ Conference.
2026 Committee Chair:
Margarit Khachatryan
Federal Reserve Bank of St. Louis
[email protected]