By Jane Clabby
IBM and the University of Rochester’s Simon School of Business announced winners of the first academic competition focused on developing new use cases for Watson. 25 graduate students in a variety of business-related majors formed teams that yielded seven proposals illustrating how Watson’s technology could be applied to solve complex challenges in the transportation, energy, retail and public sector industries. The judges included IBM executives, faculty members and business leaders, and criteria for winning included depth of marketing research, clear articulation of concept, understanding of the technology and Big Data, as well as feasibility.
First, second and third place awards were given, and the winning ideas follow:
1) First Place “Managing Data in the Eye of a Storm” – Weather data and the latest census numbers could be used to help organizations better prepare for a crisis and allocate resources accordingly in the event of a weather-related disaster. Watson’s ability to look at unstructured and structured information could more accurately identify weather patterns and help improve response times.
2) Second Place “Mining for Insights, Literally” –Watson could help energy companies improve the understanding of environmental impacts, and regulatory and safety information to reduce accidents while avoiding the over exploration of natural resources by considering profit margin, consumption rates and and opportunities for exploration of oil, gas and mineral reserves.
3) Third Place ”Unpacking Big Data Improves Travel Experience” – Watson could be used to analyze unstructured historic airport –related information and customer travel data to enhance security and reduce wait times to improve the travel experience.
This competition is an example of the type of work done through IBM’s Academic Initiative,“a global program that facilitates the collaboration between IBM and educators to teach students the information technology skills they need to be competitive and keep pace with changes in the workplace.” Interest from both IBM and one of the nation’s leading MBA programs illustrates the importance being placed on the knowledge and use of business analytics and evidence-based reasoning for future business leaders. IBM’s press release cites a statistic from the U.S. Bureau of Labor Statistics which states that there will be a 24 percent increase in demand for professionals with management analysis skills over the next 8 years. Joint projects such as this ensure that college and graduate students will have the skills necessary to compete in today’s job market.