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http://www.analytics-magazine.org<br /> Analytics<br /> DRIVING BETTER BUSINESS DECISIONS<br /> SEPTEMBER/OCTOBER 2013<br /> Brought to you by:<br /> INFORMS<br /> AWASH IN BIG DATA<br /> HOW TO FIND SIGNIFICANT VALUE IN A SEA OF DATA<br /> Executive Edge - MarketShare CEO Wes Nichols on using marketing analytics math<br /> ALSO INSIDE:<br /> Information Asymmetry<br /> Can decision science reduce market inefficiency?<br /> Analytics Power Player<br /> Interview with PAW founder & author Eric Siegel<br /> `Certify' Your Career<br /> CAP® designees comment on certification programINSIDE STORY<br /> Key skills for analytics pros<br /> Patrick Noonan earned an MBA from the Yale School of Management, but it wasn’t until he went to work for management consulting firm McKinsey & Company that he really began to learn and appreciate the “essential skills” for analytics professionals. Thirty years later, Noonan, now a professor of Practice of Decision & Information Analysis at th<a title="Analytics, September/October 2013 page 1" href="http://viewer.zmags.com/publication/e0d5d66f?page=1">http://www.analytics-magazine.org Analytics DR</a> <a title="Analytics, September/October 2013 page 2" href="http://viewer.zmags.com/publication/e0d5d66f?page=2">INSIDE STORY Key skills for analytics pros P</a> <a title="Analytics, September/October 2013 page 3" href="http://viewer.zmags.com/publication/e0d5d66f?page=3">AIMMS Paragon Decision Technology</a> <a title="Analytics, September/October 2013 page 4" href="http://viewer.zmags.com/publication/e0d5d66f?page=4">CONTENTS Features Turning big data into info</a> <a title="Analytics, September/October 2013 page 5" href="http://viewer.zmags.com/publication/e0d5d66f?page=5">Analytic Solver Platform Easy to use predictive a</a> <a title="Analytics, September/October 2013 page 6" href="http://viewer.zmags.com/publication/e0d5d66f?page=6">DEPARTMENTS 2 Inside Story 8 Executive Edge </a> <a title="Analytics, September/October 2013 page 7" href="http://viewer.zmags.com/publication/e0d5d66f?page=7">Frontline Solvers Excel to tablet or phone Excel</a> <a title="Analytics, September/October 2013 page 8" href="http://viewer.zmags.com/publication/e0d5d66f?page=8">EXECUTIVE EDGE Good quant, bad quant How to te</a> <a title="Analytics, September/October 2013 page 9" href="http://viewer.zmags.com/publication/e0d5d66f?page=9">Frontline Solvers Analytic Solver Platform From </a> <a title="Analytics, September/October 2013 page 10" href="http://viewer.zmags.com/publication/e0d5d66f?page=10">EXECUTIVE EDGE another. [This Art vs. Science i</a> <a title="Analytics, September/October 2013 page 11" href="http://viewer.zmags.com/publication/e0d5d66f?page=11">ecosystem, nor are they measuring the precise impa</a> <a title="Analytics, September/October 2013 page 12" href="http://viewer.zmags.com/publication/e0d5d66f?page=12">EXECUTIVE EDGE you might not be able to actuall</a> <a title="Analytics, September/October 2013 page 13" href="http://viewer.zmags.com/publication/e0d5d66f?page=13">Inaugural Analytics Certification Exams INFORMS C</a> <a title="Analytics, September/October 2013 page 14" href="http://viewer.zmags.com/publication/e0d5d66f?page=14">Analyze This! A tale of two books on decision-m</a> <a title="Analytics, September/October 2013 page 15" href="http://viewer.zmags.com/publication/e0d5d66f?page=15">that was sitting on my nightstand, which was Eric </a> <a title="Analytics, September/October 2013 page 16" href="http://viewer.zmags.com/publication/e0d5d66f?page=16">Analyze This! Kahneman clearly relished the reg</a> <a title="Analytics, September/October 2013 page 17" href="http://viewer.zmags.com/publication/e0d5d66f?page=17">Visual Analytics sas.com/vademo SAS</a> <a title="Analytics, September/October 2013 page 18" href="http://viewer.zmags.com/publication/e0d5d66f?page=18">INFORMS INITIATIVE INFORMS launches continuing </a> <a title="Analytics, September/October 2013 page 19" href="http://viewer.zmags.com/publication/e0d5d66f?page=19">meetings, as well as offered in major cities at sp</a> <a title="Analytics, September/October 2013 page 20" href="http://viewer.zmags.com/publication/e0d5d66f?page=20">INFORMS INITIATIVE University’s Fuqua School of</a> <a title="Analytics, September/October 2013 page 21" href="http://viewer.zmags.com/publication/e0d5d66f?page=21">methods for contemporary data and applications in </a> <a title="Analytics, September/October 2013 page 22" href="http://viewer.zmags.com/publication/e0d5d66f?page=22">FORUM How to land that top analytics job Compl</a> <a title="Analytics, September/October 2013 page 23" href="http://viewer.zmags.com/publication/e0d5d66f?page=23">directly into the business, frequently interacting</a> <a title="Analytics, September/October 2013 page 24" href="http://viewer.zmags.com/publication/e0d5d66f?page=24">FORUM from INFORMS, SAS, CFA or other actuarial</a> <a title="Analytics, September/October 2013 page 25" href="http://viewer.zmags.com/publication/e0d5d66f?page=25">Our sales force is growing Trade Extensions</a> <a title="Analytics, September/October 2013 page 26" href="http://viewer.zmags.com/publication/e0d5d66f?page=26">ANALYTICS & HEALTHCARE Opportunities, barriers </a> <a title="Analytics, September/October 2013 page 27" href="http://viewer.zmags.com/publication/e0d5d66f?page=27">health management can potentially predict possible</a> <a title="Analytics, September/October 2013 page 28" href="http://viewer.zmags.com/publication/e0d5d66f?page=28">ANALYTICS & HEALTHCARE focus has been given to </a> <a title="Analytics, September/October 2013 page 29" href="http://viewer.zmags.com/publication/e0d5d66f?page=29">INFORMS Annual Meeting 2013 Minneapolis, MN</a> <a title="Analytics, September/October 2013 page 30" href="http://viewer.zmags.com/publication/e0d5d66f?page=30"> ANALYTICS & HEALTHCARE complex diseases. After </a> <a title="Analytics, September/October 2013 page 31" href="http://viewer.zmags.com/publication/e0d5d66f?page=31">NORTHWESTERN ANALYTICS As businesses seek to ma</a> <a title="Analytics, September/October 2013 page 32" href="http://viewer.zmags.com/publication/e0d5d66f?page=32">BIG DATA Turn big data into information with hi</a> <a title="Analytics, September/October 2013 page 33" href="http://viewer.zmags.com/publication/e0d5d66f?page=33">We’re in the era of big data, but what do we mean </a> <a title="Analytics, September/October 2013 page 34" href="http://viewer.zmags.com/publication/e0d5d66f?page=34">BIG DATA infrastructure that provides workload </a> <a title="Analytics, September/October 2013 page 35" href="http://viewer.zmags.com/publication/e0d5d66f?page=35">In our experience, HPA solutions to complex busine</a> <a title="Analytics, September/October 2013 page 36" href="http://viewer.zmags.com/publication/e0d5d66f?page=36">BIG DATA fundamental rethinking of analytics – </a> <a title="Analytics, September/October 2013 page 37" href="http://viewer.zmags.com/publication/e0d5d66f?page=37">CUNY School of Professional Studies Online M.S. i</a> <a title="Analytics, September/October 2013 page 38" href="http://viewer.zmags.com/publication/e0d5d66f?page=38">BEHAVIORAL ECONOMICS Bridging the information g</a> <a title="Analytics, September/October 2013 page 39" href="http://viewer.zmags.com/publication/e0d5d66f?page=39">That information is integral to any economic trans</a> <a title="Analytics, September/October 2013 page 40" href="http://viewer.zmags.com/publication/e0d5d66f?page=40">INFORMATION ASYMMETRY As banks started relaxing</a> <a title="Analytics, September/October 2013 page 41" href="http://viewer.zmags.com/publication/e0d5d66f?page=41">to exist in various forms in almost every business</a> <a title="Analytics, September/October 2013 page 42" href="http://viewer.zmags.com/publication/e0d5d66f?page=42">INFORMATION ASYMMETRY on the seller, the buyer </a> <a title="Analytics, September/October 2013 page 43" href="http://viewer.zmags.com/publication/e0d5d66f?page=43">CRC Press Getting Started with Business Analytics</a> <a title="Analytics, September/October 2013 page 44" href="http://viewer.zmags.com/publication/e0d5d66f?page=44">INFORMATION ASYMMETRY to capture telemetry data</a> <a title="Analytics, September/October 2013 page 45" href="http://viewer.zmags.com/publication/e0d5d66f?page=45">This moral hazard problem can end up driving hones</a> <a title="Analytics, September/October 2013 page 46" href="http://viewer.zmags.com/publication/e0d5d66f?page=46">Q&A Predictive analytics power player PAW foun</a> <a title="Analytics, September/October 2013 page 47" href="http://viewer.zmags.com/publication/e0d5d66f?page=47">Eric Siegel, founder of Predictive Analytics World</a> <a title="Analytics, September/October 2013 page 48" href="http://viewer.zmags.com/publication/e0d5d66f?page=48">PREDICTIVE ANALYTICS holy grail for all sorts o</a> <a title="Analytics, September/October 2013 page 49" href="http://viewer.zmags.com/publication/e0d5d66f?page=49">to take that first step. It doesn’t happen overnig</a> <a title="Analytics, September/October 2013 page 50" href="http://viewer.zmags.com/publication/e0d5d66f?page=50">PREDICTIVE ANALYTICS PAW conferences fresh and </a> <a title="Analytics, September/October 2013 page 51" href="http://viewer.zmags.com/publication/e0d5d66f?page=51">Join INFORMS 2014 INFORMS Renewals</a> <a title="Analytics, September/October 2013 page 52" href="http://viewer.zmags.com/publication/e0d5d66f?page=52"> PREDICTIVE ANALYTICS coherent way. I can say th</a> <a title="Analytics, September/October 2013 page 53" href="http://viewer.zmags.com/publication/e0d5d66f?page=53">The University of Chicago Graham School of Continu</a> <a title="Analytics, September/October 2013 page 54" href="http://viewer.zmags.com/publication/e0d5d66f?page=54">TECHNICAL & MANAGERIAL PROBLEMS Messy analytics</a> <a title="Analytics, September/October 2013 page 55" href="http://viewer.zmags.com/publication/e0d5d66f?page=55">Who is working with perfect systems? That is like </a> <a title="Analytics, September/October 2013 page 56" href="http://viewer.zmags.com/publication/e0d5d66f?page=56">MESSY ANALYTICS and computing/storage capacity </a> <a title="Analytics, September/October 2013 page 57" href="http://viewer.zmags.com/publication/e0d5d66f?page=57">Try and issue of Foresight today forecasters.org</a> <a title="Analytics, September/October 2013 page 58" href="http://viewer.zmags.com/publication/e0d5d66f?page=58">MESSY ANALYTICS The mess caused by power typi</a> <a title="Analytics, September/October 2013 page 59" href="http://viewer.zmags.com/publication/e0d5d66f?page=59">The Franz Edelman Award Call for Entries</a> <a title="Analytics, September/October 2013 page 60" href="http://viewer.zmags.com/publication/e0d5d66f?page=60">CAREER ADVANCEMENT How will analytics certifica</a> <a title="Analytics, September/October 2013 page 61" href="http://viewer.zmags.com/publication/e0d5d66f?page=61">impact your career going forward? The insightful </a> <a title="Analytics, September/October 2013 page 62" href="http://viewer.zmags.com/publication/e0d5d66f?page=62">CERTIFIED ANALYTICS PROFESSIONAL Thomas W. Ches</a> <a title="Analytics, September/October 2013 page 63" href="http://viewer.zmags.com/publication/e0d5d66f?page=63">assessment of knowledge and understanding of busin</a> <a title="Analytics, September/October 2013 page 64" href="http://viewer.zmags.com/publication/e0d5d66f?page=64">CERTIFIED ANALYTICS PROFESSIONAL career options</a> <a title="Analytics, September/October 2013 page 65" href="http://viewer.zmags.com/publication/e0d5d66f?page=65">help me be a part of a network of professionals in</a> <a title="Analytics, September/October 2013 page 66" href="http://viewer.zmags.com/publication/e0d5d66f?page=66">CERTIFIED ANALYTICS PROFESSIONAL information on</a> <a title="Analytics, September/October 2013 page 67" href="http://viewer.zmags.com/publication/e0d5d66f?page=67">additional sample questions might be helpful. H</a> <a title="Analytics, September/October 2013 page 68" href="http://viewer.zmags.com/publication/e0d5d66f?page=68">Text Analytics Lost in Translation II Part two</a> <a title="Analytics, September/October 2013 page 69" href="http://viewer.zmags.com/publication/e0d5d66f?page=69">Figure 1: Text analytics pipeline of activity (in </a> <a title="Analytics, September/October 2013 page 70" href="http://viewer.zmags.com/publication/e0d5d66f?page=70">Text Analytics The first text processing activi</a> <a title="Analytics, September/October 2013 page 71" href="http://viewer.zmags.com/publication/e0d5d66f?page=71">desired elements in the documents. 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