Future Trends in Business Analytics and Optimization
Journal Intelligent Data Analysis - Donald E Brown, Fazel Famili, Gerhaard Paass, Kate Smith-Miles, Lyn C Thomas, Richard Weber, Ricardo Baeza-Yates, Cristián Bravo, Gastón L'Huillier, Sebastián Maldonado (2011)
During the last decades, the disciplines of Data Mining and Operations Research have been working mostly independent of each other. However, the increasing complexity of today’s applications in areas such as business, medicine, and science requires more and more interaction between both disciplines. On the one hand, several data mining algorithms are based on optimization methods. On the other hand, in several applications the pure Knowledge Discovery in Databases (KDD) process is not sufficient since it does not take explicitly into account the entire decision process. This report presents future trends in Business Analytics and Optimization discussed at the panel sessions during the workshop on Business Analytics and Optimization (BAO’2010), where the future challenges of data mining regarding privacy, cyber-crime, dynamic models, open source/closed source software, model construction, model use and usability, and legal regulations, among others, were discussed.