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July 10, 2014
Competition honors innovation and excellence in the use of data science to solve complex problems; winners from Brazil, Canada, Netherlands and Turkey
SAN JOSE, Calif.—July 10, 2014—Use data science to make things better. That was the name of the game in the international “Optimize the Real World” competition hosted by FICO (NYSE:FICO), a leading predictive analytics and decision management software company. The top three teams have each won a prize of USUSD 10.000 for their work in applying analytics to manufacturing, financial services and food production.
"The creativity of top data scientists is extraordinary," said Stuart Wells, chief technology officer at FICO. "Looking at a tough business challenge and figuring out how to both express it and solve it as a mathematical problem is incredibly difficult. I applaud all the participants in our 'Optimize the Real World' competition for their innovative and inspired work. Their efforts illustrate the incredible power of analytics, which is continuing to grow as data becomes bigger, better and more easily accessible."
The Winners: Cars, Cash and Cake Mehmet A. Begen and Burcu Caglar Gencosman applied analytics to improve scheduling and productivity at Beycelik, a Turkish company that manufactures auto parts. Their work identified an opportunity for Beycelik to increase manufacturing productivity by 21 percent while reducing operating costs by €500.000 annually.
Roel G. van Anholt, Leandro C. Coelho, Gilbert Laporte, and Iris F. A. Vis applied analytics to optimize the replenishment of automated teller machines (ATMs) in the Netherlands. This team of Dutch and Canadian data scientists found a way to decrease the cost of operating ATMs by 12 percent, potentially saving ATM operators in the Netherlands an estimated €10 million annually. The solution developed by Van Anholt, Coelho, Laporte and Vis can also increase cash availability at ATMs to improve customer satisfaction.
"This was a large, complicated problem and there was no tool designed specifically to solve it," said Van Anholt. "We quickly realized we would need to develop our own approach, which led us to create a solution that combines analytics, heuristics and optimization. It was an exciting project and we are grateful to FICO for recognizing the uniqueness of our work."
Brazilians Felipe Augusto Moreira Silva and Ulisses Assis applied analytics to large-scale food production for one of Brazil's largest providers of baked goods. The problem this team solved was optimizing baking schedules, which include parallel production of multiple items, setup time, managing transportation capacity, and setting delivery times. Their work has already increased monthly profitability by USUSD 2,5 million through the optimization of scheduling for 160 products, 18 production lines, and 150 daily truckloads of bread, buns and cakes.
"We are happy to receive this recognition," said Ulisses Assis of Linear, an operations research company with expertise in supply chain optimization. "Our team worked hard to create this model and to deliver a good user interface with a robust computational implementation. It is very satisfying to see our creation gaining respect and helping our customers increase efficiency." The contest entries were judged on originality, business benefit, and mathematical formulation and programming. Participants in the contest used analytics to optimize a wide range of processes and tasks, including manufacturing, recycling, energy usage and trading virtual goods.
Sobre FICO FICO (NYSE: FICO) es una empresa líder de software de analítica que ayuda a negocios de más de 90 países a tomar mejores decisiones que incrementen el crecimiento, la rentabilidad y la satisfacción del cliente. El innovador uso de Big Data y de algoritmos matemáticos por parte de la empresa para predecir el comportamiento del consumidor ha transformado sectores enteros. FICO ofrece software de analítica y herramientas que se emplean en múltiples sectores para gestionar riesgos, combatir el fraude, crear relaciones con clientes más rentables, optimizar operaciones y cumplir con estrictas regulaciones gubernamentales. Many of our products reach industry-wide adoption. These include the FICO® Score, the standard measure of consumer credit risk in the United States. Las soluciones FICO emplea estándares de código abierto y cloud computing para maximizar la flexibilidad, hacer despliegues más rápidos y reducir costes. La empresa también ayuda a millones de personas a gestionar su salud crediticia personal. FICO: Make every decision count™. Learn more at www.fico.com.
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