Shin Woong Sung, a student in the master’s degree program from the Department of Industrial and Systems Engineering at KAIST, received an Honorable Mention at the Institute for Operations Research and the Management Sciences (INFORMS) Conference in Business Analytics and Operations Research. The INFORMS Conference is the world’s largest conference on industrial engineering and management science.
On April 8, the SAS-INFORMS Analytics Section Student Analytical Scholar Competition, one of the programs of the 2013 INFORMS Business Analysis and Management Science Conference, was held in San Antonio, Texas. This competition is supported by the Analytics Section of INFORMS, and by SAS, a corporation that deals with business analysis, software, and service. Sung participated in this competition and was selected as one of the final three contestants.
In addition to the conference, Sung had also previously participated in a research project on business analytics with Woongjin Chemical and worked on finding successful cases of business management systems that can be applied in Korea.
As the interest in Big Data increased with the advent of the Internet and smartphone applications, the field of business analytics has also received much attention from researchers around the world. Business analytics focuses on developing new insights and understanding business performances based on data, statistical and quantitative analysis, predictive modeling, and fact-based management to allow efficient decision-makings by companies and organizations.
The INFORMS Conference is the world’s largest meeting of experts on business analytics. This year 870 researchers, businessmen, and government officials from various fields, including industrial engineering, business analytics, quantitative business management, and production management, participated and discussed about the applications of Big Data analysis.
Professor Jang Young Jae from the Department of Industrial and Systems Engineering stated, “Shin Woong Sung’s achievement at the prestigious international business analytics conference is very meaningful for Korea’s development in research in this field.” According to Professor Jang, this was the first time a participant from Korea was given an award at INFORMS.