I’m working on a data analytics project and need guidance to help me learn.

Posted: June 8th, 2022

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Learning Goal: I’m working on a data analytics project and need guidance to help me learn.Textbook (recommended) Wayne L. Winston. Operations Research: Applications and Algorithms, 4th Edition. Cengage,2004.David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann. An Introduction to Management Science: Quantitative Approach, 15th Edition. Cengage, 2019.Throughout the term we learned about prescriptive analytics techniques to model and solve decision problems. The course project is meant for you to explore how these techniques can be applied to a problem that you personally find interesting (maybe relevant to your current/prior work). This is an individual project. You can approach your project in either one of the following two ways:Research: Searching in the literature for existing optimization models that have been developed for that problem (preferably in academic papers), and then describing at least one of those models in detail (e.g., going through the list of variables, objective function, and constraints, and some results).
Applied: Rolling up your sleeves and developing an optimization model for that problem on your own, and then presenting your model & results. (Your model doesn’t have to be too complicated or perfect. It could resemble one of the models we see among class examples, and/or it could be implemented for a small instance of the real problem you are considering).
You should create a (no more than) 10-minute presentation and a written report. Your report should be no longer than 5 pages. Pretend you are trying to teach the rest of the class some modeling technique: Briefly tell them about the problem and why it interests you, then proceed to walking them through details of the model (whether it is yours, or someone else’s).If you are using or explaining someone else’s model, make sure to cite them.Finding project ideas:Think about your past/current jobs or internships, hobbies/interests, etc. and think of any operational issue or decision problem that can benefit from a sound optimization approach.
Pick an industry of your interest (e.g., airlines, sports, advertising, insurance, music, etc.), then search for “emerging trends in …” or “important decision problems in …” the industry you are considering.
Go by methodologies and search for “Optimization models in …” whatever industry or trend or problem you are considering.
Don’t rely only on Google for finding reputable references. Once you have a topic in mind, at least use Google Scholar (Links to an external site.) to find peer-reviewed academic papers on the topic.
If you are not sure if your project idea/topic is suitable, you are welcome to send me an email and describe your idea to double-check with me.Grading Criteria:Your presentation and report will be graded (in the order of importance) based on:Reasonable effort made towards modeling (or understanding an existing model of) the problem,
Clarity & correctness of your presentation and report, and the use of proper terminology throughout,
Overall quality of slides and timing of the presentation. Clear professional report.
You will be asked to upload both your presentation and report. You will receive a single grade.
Requirements: Project+report

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