• How large do you perceive the gap between Academics and Practice?

  • How often have you been able to apply a complicated OR model in practice?

  • How often have you tried, only to find out that the business was not ready for it, i.e. did not have the data(base)/systems/processes/team in place, the likes of which are mere assumptions in Academics.

  • What percentage of your time do you spend with your client implementing optimization/simulation models, as opposed to helping them with the simple - but necessary and effective - IT infrastructure related tasks, or simple spreadsheet analysis?

  • How often have you had to explain what OR is about?

In short, how ready do you think businesses are for exploiting the full potential of OR?

asked 19 Jun '12, 18:36

kuomarc's gravatar image

kuomarc
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accept rate: 0%


More than one question...

I'll try to answer them in order of appearance.

Some academics are well connected to business users, hence the gap can be quite small.

We have many (hundreds if not thousands) customers using CPLEX with complicated OR models.

In most cases I've seen, data wasn't ready when we started an OR project. I see this as one of the main obstacle on the way to widespread use of OR.

Focusing on optimization models can be high percentage if you use the right tools, tools that address IT issues.

I have stopped explaining what OR is (the techniques it uses), and I focus on what OR can do for business people.

link

answered 19 Jun '12, 18:53

jfpuget's gravatar image

jfpuget
2.5k310
accept rate: 8%

edited 20 Jun '12, 05:23

Speaking as an academic, I would say that a lot of us are staring at practice across a wide divide (or just ignoring it entirely). That's not a reflection on the readiness of industry to use our research, though; it's a reflection on academe.

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answered 20 Jun '12, 17:34

Paul%20Rubin's gravatar image

Paul Rubin ♦♦
14.6k412
accept rate: 19%

edited 06 Jul '12, 11:12

Speaking as a consultant having worked with multiple companies in different industries, I'd say the answer to the last question is very company dependent. Some companies and industries, especially those with expensive assets are very receptive to the idea of optimization. And this especially true if you can build operational models that help them use those assets better on a daily basis.

I think one of the areas we need to improve in order for businesses to better use OR is not explaining to them what OR can do for them initially, but listen to what issues they are having as a business. We all have the hammers we like to use, which don't always meet the needs of a particular client. Then once they have told you their issues, think about how you can model their system to help alleviate those issues. Oftentimes the model needed to help them is not complex in OR terms but needs complex data and business rules that don't fit neatly in a MIP.

If you focus on user experience and including both IT type workflow improvements as well as sound optimization techniques that build on what users perceive as a good solution then that will help you gain a foothold at a company and allow you to create increasingly complex models to help that organization out.

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answered 06 Jul '12, 10:50

Rob%20Randall's gravatar image

Rob Randall
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accept rate: 0%

-1

what is options trading

Basically it depends on the degree of capactacion and experience who have the charge of the subject matter of each particular company, today in finance and trading is very good professional level.

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answered 25 Jul '12, 11:41

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ronnie
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