AI, BIG DATA, AND ANALYTICS: Current Landscape & Future Outlook

McKinsey's Global Institute foresaw in 2011 that big data analysis would become a crucial competitive factor for firms, driving productivity, innovation, and consumer benefit. Today, over 85% of Fortune 1000 companies are engaged in or planning big data initiatives, primarily to enhance decision-making. However, implementing big data management and analytics poses challenges due to the complexity of tools and skills required. Many companies still rely on traditional methods, limiting the impact of data analytics. To achieve significant results, there's a need for more effective backend tools and greater emphasis on data-driven processes.

Additionally, this talk will discuss findings from collaborations with Henry Ford Health System and the Children's Hospital of Michigan. The former examines the benefits of "early task initiation" using near real-time operational intelligence in hospitals, demonstrating the effectiveness of proactive bed reservation signals in reducing emergency department patient boarding. The latter explores how AI can aid radiologists in interpreting MRIs for neonates.

Learning Objectives

• Understand the importance of big data for improving decision making
• Understand the different types of analytics and their applications
• Understand the reasons for growth in machine learning and AI
• Understand the benefits for big data and analytics in healthcare through case studies 

When: Wednesday, May 29, 2024

Time: 12 - 1 p.m. 

Location: ZOOM

Guest Speaker:

Ratna Babu Chinnam, Ph.D., is an expert in AI, Big Data & Business Analytics and is a Professor and Chair of the Industrial & Systems Engineering Department at Wayne State University. He is the author of over 150 technical publications (journal articles, conference proceedings, and research reports). His research interests include business analytics, big data, operations management, supply chain management, sustainability, healthcare, and smart engineering systems. He is currently the Associate Editor for the International Journal of Modeling and Simulation, the International Journal of Quality, Statistics, and Reliability, and the North American Editor for the Journal of Remanufacturing. His past research is funded by the U.S. NSF, DoT, DoD, DoEd, and VA. He carried out collaborative research with such multi-national companies as Ford Motor Company, General Dynamics, Intel, Goodyear, and consulted for such companies as Chrysler, Sirius Satellite Radio, Energy Conversion Devices, Dominos, CapGemini, Faurecia, Whirlpool, Steelcase, MRF Tyres, Magna International, DataFactZ, and Tecton.