Chennai Mathematical Institute

Seminars




Dates : October 17, 24 and November 7, 14
3.30pm,Seminar Hall
Data Driven Decision Making

Vidyadhar Kulkarni
Department of Statistics and OR UNC, Chapel Hill.
17-10-19


Abstract

LECTURE ANNOUNCEMENT

Title : Data Driven Decision Making

Speaker : Prof Vidyadhar Kulkarni Department of Statistics and OR UNC, Chapel Hill.

Dates : October 17, 24 and November 7, 14

Time : 3.30 pm

Venue : Seminar Hall.

This short lecture series will explore how the decision making can be improved by exploiting data. The availability of abundant data and cheap computing power has completely changed the landscape of decision making. In the past the decision models used to involve many assumptions and few parameters. However, the modern decision models have fewer assumptions and rely on directly using data and optimization tools to make optimal decisions. This new paradigm is finding home in many applications from supply chain to healthcare. In this lecture series we shall explore one or two of these application areas: inventory and service systems.

It is desirable that the students be familiar with the basics of discrete time Markov chains, birth and death processes, Markov Decision Processes, Regression and Linear Programming. We will cover any gaps in the background as needed.