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Consortium for Mathematics and its Applications

Mathmodels.org
Resource Type: Contest Problem
Primary Level: Undergraduate

Data Paralysis? Use Our Analysis!

Author: COMAP


Background

Many companies view data as a strategic asset but acknowledge great difficulty deriving value from this asset. Proper management of this precious resource can lead to a competitive advantage. Thus, companies need to establish an integrated data and analytics (D&A) system, where they can guarantee that they have the right people, technologies, and processes in place to manage, manipulate, use, and protect this resource.

Your consulting team develops models that evaluate D&A systems to help company executives make the right decisions pertaining to three key components: people, technologies, and processes. When it comes to D&A, your models provide companies with the ability to measure the D&A system maturity through examination of these three key components. To maximize the potential of their data assets, companies want highly skilled people, relevant technologies, mature processes, and a strong connection between all three components. Your models help companies assess their current state and provide insight into the system changes needed to maximize the potential of their D&A system. Companies use your model(s) to optimize their analytic capabilities, obtain a competitive advantage, and give customers confidence in the company’s ability to manage data.

Intercontinental Cargo Moving (ICM) Corporation operates a large seaport and has hired your team. ICM Corporation wants you to measure the maturity of their current D&A system and provide a solid plan to optimize their D&A capabilities. Using your model, ICM Corporation hopes to instill customer trust and confidence in their data practices.

Problem Download

©2022 by COMAP, Inc.
ICM Problem
Commentary: Yes (1) | Student Papers: Yes (4)

Mathematics Topics:

Math Modeling

Application Areas:

Contest Preparation

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