IIM Vizag gets decision science and analysis lab – Times of India

Visakhapatnam: The Indian Institute of Management-Visakhapatnam has set up an ‘Interdepartmental Decision Science and Analysis Lab’ (Ideal). The lab was inaugurated on Wednesday by Professor V Nagadevara, former Dean and Director (I / C) of IIM Bangalore and Chairman of the Faculty Development and Evaluation Committee of IIM Visakhapatnam.

IDAEL is a ‘Center of Excellence’ dedicated to interdisciplinary research. Professor M Chandrasekhar, Director, IIM-Vizag, said that the ideal would bring industry, government and academia together to play an important role in tackling socio-economic problems of inter-departmental nature, especially in aspiring districts like Visakhapatnam.

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Professor Chandrasekhar elaborates that the goal of Ideal is to serve as a platform for concept, innovation, construction, and innovation of valuable products and services. IIM-V is a public-spirit and public-funded institution, aimed at disruptive and transformative innovation that serves a larger public purpose and the welfare of the public.

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The lab was inaugurated by industry leader Dr Jai Joy Ganesh, Senior Vice President and Head of Emphasis Research and Innovation Center (Next Labs). Dr. Ganesh Ganesh talks about the interaction of data science, artificial intelligence and machine learning in the transformation of industry and society. He emphasized the importance of aspects like decision science models and solutions, such as explanatoryness and audibility, in order to gain greater acceptance among utility scientists.

Professor Parthasarathy Ramachandran, Chairman, Department of Management Studies, Indian Institute of Science, Bangalore, in his speech, spoke on current research challenges in decision disciplines related to interdisciplinary disciplines, such as collection, compilation, big data integration; There is a need to ensure fairness, equality and ethics in stakeholder engagement and communication with stakeholders, as well as in data use and interpretation.

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In his inaugural address, Professor Nagadevara highlighted the inter-subject matter of decision science and how it can benefit greatly from field analysis such as ‘organizational behavior’. He emphasizes the importance of developing a use-case repository, which is only possible through deep engagement with the industry. “The lab can act as a trusted third party between different players, resolving privacy issues. The current epidemic situation is a silver lining for the development of descriptive, diagnostic, predictive and instructive analysis in the field of healthcare, ”said Professor Nagadevara.

IIM Visakhapatnam Ideal head Dr. Shivshankar Singh Patel explains how the lab will place mathematical optimization and data science as the core of modeling and analysis. It will work at the intersection of solutions that address math, statistics, operations research, economics, computer and social sciences, and real-life challenges. There will be extensive use of tools and techniques such as artificial intelligence, machine learning, deep learning, cloud computing, graph analytics, game theory and comprehensive computing, ”said Dr Patel.

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