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Analytics, SPRING 2009<br /> DRIVING BETTER BUSINESS DECISIONS<br /> <br /> HOW TO SELL ANALYTICS TO SKEPTICS<br /> A CONSULTANT'S GUIDE TO FINDING BUSINESS, MANAGING PROJECTS AND SUCCEEDING IN A DIFFICULT ENVIRONMENT.<br /> ALSO INSIDE:<br /> * FINANCIAL FIASCO FORUM: Were mathematical models to blame for the economic meltdown?<br /> * ABCs OF SIMULATION PRACTICE: Alphabet soup of components for applying knowledge and judgment.<br /> * HARD SELL FOR SOFT O.R.: U.S. slow to warm up to methodologies that tackle messy problems.<br /> <br /> BGLB=>LMHKR<br /> FH=>ELF>EM=HPG<br /> Given the worldwide economic<br /> meltdown that weighs so heav-<br /> ily on just about everyone’s mind<br /> these days, it should come as<br /> no surprise that many of the ar-<br /> ticles and columns in this spring<br /> 2009 issue of Analytics focus on<br /> the financial sector. Because the<br /> collapse of the housing market in<br /> the United States and the shaky<br <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 1" href="http://viewer.zmags.com/publication/7c795aa6?page=1">Analytics, SPRING 2009 DRIVING BETTER BUSINESS DE</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 2" href="http://viewer.zmags.com/publication/7c795aa6?page=2"> BGLB=>LMHKR FH=>ELF>EM=HPG Given the wor</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 3" href="http://viewer.zmags.com/publication/7c795aa6?page=3">TABLE OF CONTENTS By Warren Lieberman A cons</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 4" href="http://viewer.zmags.com/publication/7c795aa6?page=4">DEPARTMENTS INSIDE STORY VIEWPOINT FORUM PE</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 5" href="http://viewer.zmags.com/publication/7c795aa6?page=5"></a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 6" href="http://viewer.zmags.com/publication/7c795aa6?page=6"> OB>PIHBGM MA>K>ÌL:EP:RL ËFH=>EKBLDÌ </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 7" href="http://viewer.zmags.com/publication/7c795aa6?page=7"> OB>PIHBGM HG>H?MA>;B@@>LM • What transf</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 8" href="http://viewer.zmags.com/publication/7c795aa6?page=8">FORUM: ECONOMIC CRISIS DID FAULTY MATHEMATICAL MO</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 9" href="http://viewer.zmags.com/publication/7c795aa6?page=9">and then price all derivative securities using th</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 10" href="http://viewer.zmags.com/publication/7c795aa6?page=10">FORUM: ECONOMIC CRISIS IF PRESTIGIOUS PROFESSI</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 11" href="http://viewer.zmags.com/publication/7c795aa6?page=11">market bubble. For example, in calculating the ma</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 12" href="http://viewer.zmags.com/publication/7c795aa6?page=12">management science community and other analysts n</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 13" href="http://viewer.zmags.com/publication/7c795aa6?page=13">REAL WORLD HOW TO SELL ANALYTICS TO SKEPTICS A C</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 14" href="http://viewer.zmags.com/publication/7c795aa6?page=14">Based on how the consultant responded to the ques</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 15" href="http://viewer.zmags.com/publication/7c795aa6?page=15">the SVP’s perception and expectation that this co</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 16" href="http://viewer.zmags.com/publication/7c795aa6?page=16">through my files (and admittedly, I might have mi</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 17" href="http://viewer.zmags.com/publication/7c795aa6?page=17">typically agree to pay our standard fee and not s</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 18" href="http://viewer.zmags.com/publication/7c795aa6?page=18">SOFTWARE SOLUTIONS THE ABCs OF SIMULATION PRACTIC</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 19" href="http://viewer.zmags.com/publication/7c795aa6?page=19">simulation textbook. What we are presenting here </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 20" href="http://viewer.zmags.com/publication/7c795aa6?page=20">G is for graphics. It is said that “a picture is </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 21" href="http://viewer.zmags.com/publication/7c795aa6?page=21">the material handling system. This represents a v</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 22" href="http://viewer.zmags.com/publication/7c795aa6?page=22">Q is for queueing. The measurement of the number </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 23" href="http://viewer.zmags.com/publication/7c795aa6?page=23">or more of these events in each model experiment </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 24" href="http://viewer.zmags.com/publication/7c795aa6?page=24">STATISTICAL SOFTWARE A LONG WAY FROM FLIP CHART</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 25" href="http://viewer.zmags.com/publication/7c795aa6?page=25">As we observe the centennial year for Gosset’s pu</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 26" href="http://viewer.zmags.com/publication/7c795aa6?page=26">the underlying variation consists of groups of re</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 27" href="http://viewer.zmags.com/publication/7c795aa6?page=27">credit fraud. In both cases it is desired to isol</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 28" href="http://viewer.zmags.com/publication/7c795aa6?page=28">OPERATIONS RESEARCH TAMING HARD PROBLEMS WITH SOF</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 29" href="http://viewer.zmags.com/publication/7c795aa6?page=29">dancing, a procession and street trading organize</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 30" href="http://viewer.zmags.com/publication/7c795aa6?page=30">Action”) is wholly concerned with applications of</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 31" href="http://viewer.zmags.com/publication/7c795aa6?page=31">• Use the models as a way of questioning and expl</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 32" href="http://viewer.zmags.com/publication/7c795aa6?page=32">point and has to generate a consensus between the</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 33" href="http://viewer.zmags.com/publication/7c795aa6?page=33">SUPPLY CHAIN MANAGEMENT HUMANITARIAN LOGISTICS </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 34" href="http://viewer.zmags.com/publication/7c795aa6?page=34">3. High uncertainty in location. We may know wher</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 35" href="http://viewer.zmags.com/publication/7c795aa6?page=35">8. Limited telecommunications and information inf</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 36" href="http://viewer.zmags.com/publication/7c795aa6?page=36">BEST PRACTICES UNLEASH THE POWER OF ANALYTICS IN</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 37" href="http://viewer.zmags.com/publication/7c795aa6?page=37">quality and coherence of analysis used in practic</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 38" href="http://viewer.zmags.com/publication/7c795aa6?page=38">$715 (by April 6) when they send three or more at</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 39" href="http://viewer.zmags.com/publication/7c795aa6?page=39">PROFILE: DON KLEINMUNTZ INFORMS PRESIDENT HAS A</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 40" href="http://viewer.zmags.com/publication/7c795aa6?page=40">have limited data on which to base their models. </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 41" href="http://viewer.zmags.com/publication/7c795aa6?page=41">CORPORATE PROFILE GENERAL ELECTRIC GLOBAL RESEAR</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 42" href="http://viewer.zmags.com/publication/7c795aa6?page=42">and enabled it to make the most profitable use of</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 43" href="http://viewer.zmags.com/publication/7c795aa6?page=43">have a vested interest that we can help solve in </a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 44" href="http://viewer.zmags.com/publication/7c795aa6?page=44">LAST WORD THE NETWORK IS THE RISK GIVEN ALL TH</a> <a title="Analytics: Selling Analytics, Economic Models, Simulation Practice &amp; Software Survey page 45" href="http://viewer.zmags.com/publication/7c795aa6?page=45">we seek to explain. There is also complexity mode</a>