BALTIMORE, MD, April 1, 2025 – Can we really trust AI to make better decisions than humans? A new study says … not always. Researchers have discovered that OpenAI’s ChatGPT, one of the most advanced and popular AI models, makes the same kinds of decision-making mistakes as humans in some situations – showing biases like overconfidence of hot-hand (gambler’s) fallacy – yet acting inhuman in others (e.g., not suffering from base-rate neglect or sunk cost fallacies).
You are swimming in an ocean of data and don’t even realize it. All around you are invisible amounts of data that would be staggering to try to comprehend. Thousands of smartphones and smart devices are talking to, sending and downloading vast amounts of data, video, audio, words, numbers, images, you name it. Everything from the latest movie on Netflix to someone’s radiology results from a cancer screening.
Mom-and-pop businesses are trying to adapt to the soaring cost of eggs. The owners of four egg-centric restaurants across the country show how they are coping with this threat to their livelihoods.
An audio journey of how data and analytics save lives, save money and solve problems.
Ashley Smith
Public Affairs Coordinator
INFORMS
Catonsville, MD
[email protected]
443-757-3578
Explore our resources for multiple topics including:
In a forthcoming paper in the journal Management Science, Harvard professor Doug Chung puts a dollar figure on the value of each additional win for big-time college football programs. He finds that each additional win creates a bump of about $3 million, through increases in revenue streams like ticket and merchandise sales, television contracts, and booster donations.
While responding to complaints on social media can help develop a rapport with customers, it can also trigger new complaints, according to a study from professors at the University of Maryland, Carnegie Mellon University and Cheung Kong Graduate School of Business, in China.
The study, which was published in Marketing Science, a journal of the Institute for Operations Research and the Management Sciences (INFORMS), explains the side effect of customers coming to expect help and giving them more of a reason to speak up in the future.
“People complain on Twitter not just to vent their frustration,” said one researcher, Liye Ma. “They do that also in the hope of getting the company’s attention. Once they know the company is paying attention, they are more ready to complain the next time around.”
INFORMS has a definition that is commonly used and I think does a great job of answering the question: What is analytics? INFORMS defines analytics as the scientific process of transforming data into insights for the purpose of making better decisions. Analytics is always an action-driven approach. There is always a decision to be made when we look at doing analytics. Coming from a data science background and working with a lot of statisticians, data scientists love to analyze data just for the sake of analyzing it. However, it is important to ensure our analysis is driving business action. Ultimately, we want analytics to empower an organization's vision.
Peyton Manning could break Brett Favre’s NFL record for most career passing yards if he throws for at least 284 yards against the Indianapolis Colts on Sunday.
But in the universe of sports’ greatest feats, is this record really that impressive?
A study published in October in the “Journal of Sports Analytics” suggests otherwise. The study, by Villanova professors Matthew Liberatore, Bret Myers and Robert Nydick and Temple professor Howard Weiss, attempts to quantify and rank the best MLB, NBA, NHL and NFL records of all time. It includes single-game, season, career and consecutive-streak records.
The best record of all belongs to Barry Bonds—but it’s not for hitting home runs.
The Institute for Operations Research and the Management Sciences (INFORMS®), the leading professional association in analytics and operations research, today announced a team of researchers that created a model using genetic signatures to predict the efficacy of vaccines on an individual by individual basis is the winner of the Daniel H. Wagner Prize.
OR/MS Today is the INFORMS member magazine that shares the latest research and best practices in operations research, analytics and the management sciences.
Access OR/MS Today Magazine
Analytics magazine showcases articles and research reports based on big data, AI, machine learning, data analytics and other new-age technologies.
Access Analytics Magazine