Graduate Seminar, 2023/12/06
Speaker:
George Zhang
Position:
Professor
Department of Decision Sciences, Western Washington University, USA
Topic:
Choosing the Right Tools: Analyzing Stochastic Systems with Analytics, Simulation, and Machine Learning
Abstract
In the realm of practical stochastic systems, whether in manufacturing or services, choosing the optimal modeling approach is a critical decision. This talk will compare and contrast analytic, simulation, and machine learning methods for modeling stochastic systems, aiming to answer the question, "Is there a clear winner among these three major approaches?" Through real-world examples, we'll demonstrate which method excels in specific scenarios, offering valuable guidance to operations researchers and data scientists facing real-world challenges.
