Title
From Data to Stochastic Modeling and Decision Making: What Can We Do Better?
Abstract
In the past decades we have witnessed a paradigm-shift from scarcity of data to abundance of data. Big data and data analytics have fundamentally reshaped many areas including operations research. In this paper, we discuss how to integrate data with the model-based analysis in a controlled way. Specifically, we consider techniques to quantify input uncertainty and the decision making under input uncertainty. Numerical experiments demonstrate that different ways in decision making may lead to significantly different outcomes in a maintenance problem.
Year
DOI
Venue
2019
10.1142/S0217595919400128
ASIA-PACIFIC JOURNAL OF OPERATIONAL RESEARCH
Keywords
DocType
Volume
Data analytics,Taylor series expansion,sensitivity analysis
Journal
36
Issue
ISSN
Citations 
SP6
0217-5959
0
PageRank 
References 
Authors
0.34
0
4
Name
Order
Citations
PageRank
Joost Berkhout100.34
Bernd Heidergott212723.31
Henry Lam300.68
Yijie Peng43212.59