Sexy job, sense of humor, slogan
By Peter Horner
They already have the sexiest job of the 21st century according to a Harvard Business Review article by Tom Davenport and D.J. Patil. Now, it turns out, data scientists also have a great sense of humor. Who knew?
The Institute for Operations Research and the Management Sciences (INFORMS) will hold exams for its Certified Analytics Professional program according to the following schedule:
Campus of University of MD, Baltimore County
University of Colorado Denver
University of Washington
Eastside Leadership Center
Bellevue, Wash. (suburb of Seattle)
Queens School of Business
Toronto, Ontario, Canada
Jan. 11, 2014
ITPG Education Center
Vienna, Va. (suburb of Washington, D.C.)
Jan. 29, 2014
University of Alabama
Business Analytics Symposium
March 6, 2014
Drexel University James E. Marks Intercultural Center
March 29, 2014
INFORMS Conference on Business Analytics and O.R.
Westin Boston Waterfront
March 30, 2014
Gartner BI & Analytics Summit
Venetian Resort Hotel & Casino
June 21, 2014
INFORMS Conference on The Business of Big Data
San Jose Marriott
San Jose, Calif.
To apply, click on https://www.informs.org/Certification-Continuing-Ed/Analytics-Certification/Apply-for-Certification
For more information, click on https://www.informs.org/Certification-Continuing-Ed/Analytics-Certification
March 30 - April 1, 2013
2014 INFORMS Conference on Business Analytics & Operations Research
June 22-24, 2014
2014 INFORMS Conference on the Business of Big Data
San Jose, CA
December 15, 2013
AnyLogic Conference: Multimethod Simulation & Modeling
Special ArticlesOnline map illustrates importance of global competence for U.S. students
Nearly 1 million data points have been collected to prove what parents, businesspeople and policymakers already know: American students must be globally competent to succeed in the interconnected 21st century. “Mapping the Nation: Linking Local to Global,” a new online resource from Asia Society, the Longview Foundation for Education in World Affairs and International Understanding, and analytics leader SAS, makes a compelling case for a globally competent workforce and citizenry.Read More
Industry NewsTrade Extensions completes large pipeline project
The Trade Extensions sourcing and optimization platform recently completed its largest project ever. The project, sourcing all the elements associated with constructing a large European gas pipeline, highlights how e-sourcing and optimization are becoming the norm for large-scale projects.Read More
Industry NewsWi2, Accenture offer analytics services platform in Japan
Wire and Wireless Co., Ltd. and Accenture have launched an analytics services platform for consumer companies in Japan that delivers context-based customer insights and supports in the creation of new, personalized services. The platform will allow businesses across a range of consumer-facing industries to identify relevant target groups, better understand where and how these customers purchase products and services, and engage them on their mobile devices with tailored offerings and promotions.Read More
Bank robbery econometrics: Crime doesn’t always pay
Contrary to images of unimaginable wealth in the movies, the proceeds from the average bank robbery are small, according to a recent report published in Significance, the magazine of the Royal Statistical Society and the American Statistical Association. Indeed, they often appear to be lower than the cost of installing some security devices designed to deter them.
With unique access to a set of data from the British Bankers’ Association, the Significance paper presents an economic model of the bank heist, balancing the robber’s efforts against his gains or losses and concluding that it is often a poorly paid career path.
The average proceeds from a bank robbery in the U.K. are £20,331, with one-third of robberies yielding nothing at all. The average takings per person per successful raid are a modest £12,706.60, equivalent to less than six months’ average wage in the U.K. In the United States, the average raid yields considerably less at $4,330. If a robber carries out multiple raids to boost his sub-average income, probability says he will be incarcerated for some time and unable to earn at all.
The authors, leading economists from the Universities of Sussex and Surrey, highlight factors influencing the success of bank raids. These included the number involved in the raid (labor input) and whether firearms were displayed (capital input). The presence of firearms increased the rewards across all bank raids to an average return per person of £10,300.50. There was a clear connection between the number of raiders and total takings – the bigger the gang, the greater the success, with every extra gang member raising the take on average by £9,033.20. Even so, with extra gang members to share the proceeds, the haul per person decreases.
Deterrent factors working against the raiders such as bank security measures, activated alarms and the number of bank staff and customers present were also examined for their effectiveness. Of these, fast-rising security screens, which are present in only 12 percent of U.K. banks and in even fewer banks in the United States, were most significant, reducing the probability of a successful raid by one-third. Even so, the financial losses to banks through raids are reasonably low compared to the cost of installing additional fast-rising screens, which might explain their low prevalence.
The authors acknowledge that bank robberies involve other costs (such as social and psychological ones) and that these may increase the social gain available from such measures. They also note that additional data would allow valuable follow-up research.
“Although bank robberies will take place for a number of ‘impulse-related’ reasons, our evidence suggests that the takings they generate appear to be consistent with economic theory,” says Professor Rickman of the University of Surrey. “This is useful information if we are thinking about how such activity may be combated in the future.”