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About Operations Research: Big Buck Challenge by IEOR @ IITB & McKinsey Knowledge Center India

Top three Winners


Rank 1: Amit Kishore

Rank 2: Paras

Rank 3: Aakash Kerawat


Only full-time students (enrolled in Bachelors, Masters or PhD programs) from India are eligible for prizes

 

Industrial Engineering and Operations Research at IIT Bombay (IEOR@IITBombay) and McKinsey Knowledge Centre India have partnered to create a challenging competition for students interested in Analytics.

 

Three winners of the competition stand to win an iPad Pro, Bose wireless headphones, and a Kindle Oasis. The winners of this competition will also have an opportunity to directly present their findings during the much awaited IEOR Day @ IIT Bombay.

 

IEOR Day @ IIT Bombay is a full day event focused on Operations Research and Analytics topics. Academicians and practitioners from the industry, across domains, will come together to discuss the latest and greatest of analytics on this day.

 

Ronald Coase had stated "If you torture the data long enough, it will confess". We hope that this competition will ignite the innovator in you and give you a glimpse of how data analytics techniques are useful in solving real life operations research problems.

 

You have nine days, to solve this exciting problem of forecasting and replenishment.

 

Register here and start cranking out your predictions!

 

About McKinsey & Company

McKinsey & Company is a global management consulting firm that serves leading businesses, governments, non-governmental organizations, and not-for-profits. We help our clients make lasting improvements to their performance and realize their most important goals. We take a consistent approach to recruiting and developing our people, regardless of where they are based. This structure ensures that we can quickly deliver the right team, with the right experience and expertise, to every client, anywhere in the world.

 

McKinsey Knowledge Centre India (McKC) is an integral part of McKinsey & Company. Located in Gurgaon and Chennai McKC is the largest hub of global knowledge and analytics talent with over 1000 professionals across research, advanced analytics, digital, IT and other functions. Our analytics professionals work along side our global consulting teams to help our clients make lasting improvements and realize their most important goals. Today over 200 analytics professionals across a range of domains such as Operations, Supply Chain, Marketing & Sales, Risk call McKC their home.

 

About IEOR, IIT Bombay

Industrial Engineering and Operations Research (IEOR) at IIT Bombay focuses on methodologies for efficient system operations and optimal utilization of resources. It is strong in modeling and analysis of complex systems and building practical solutions. IEOR offers programs leading to MTech and Ph.D. degrees where students work on challenging problems related to supply chain management, logistics, pricing of services, etc.

 

Concepts and results from IE & OR are becoming increasingly important these days in almost all sectors of the economy viz., manufacturing, transport, service, agriculture, education, communication etc. With present day technology, various types of data, including the transactional type, are available relatively easily and designing appropriate decision-making algorithms is becoming a realistic goal, sought by competitive and forward-looking organizations in both private and public sector.


Rules

Contest Guidelines

  • Only full-time students (enrolled in Bachelors, Masters or PhD programs) from India are eligible for prizes
  • The competition starts at 00:00 hours (UTC + 5:30 ) on 25th February, 2017 and closes at 23:59 hours on 5th March, 2017 (UTC + 5:30)
  • Individual participation only (no team formation)
  • One person cannot participate with more than one user account.
  • External data sets and sources cannot be used in the modeling exercise
  • Winners will be required to make a presentation (over skype) to explain the algorithm and methodology of solving this problem

FAQs

  1. Who is a full-time student?
    Full-time students include students enrolled in full-time Bachelors, Masters and PhD programs

  2. I am enrolled in a part-time course, will I be considered as an eligible student?
    No

Tools

  • You are free to use any tool and machine you have rightful access to
  • You can use any programming language or statistical software

Submission

  • Submission file must be a zip file containing two CSV files "Replenishment.csv" and "Withdrawal.csv". These file names are case sensitive also.
  • Column Name must be similar as it is in the "Withdrawal.csv" and "Replenishment.csv" and names of these columns are also case sensitive
  • Withdrawal.csv: (ID, ATM_ID, DATE, WITHDRAWAL)
  • Replenishment.csv: (ATM_ID, Replenishment frequency, Replenishment amount)
  • There must be no missing value(s) in both submission files
  • Replenishment frequency must be a whole number (0, 1, 2, 3, 4, 5 or 6 only)

  • You can use any programming language or statistical software

Solution Checker

  • Maximum five submissions per day allowed
  • Adding comment is mandatory for use of solution checker
  • Comments will help you to refer to a particular solution at a later point in time

Final Submissions

  • Setting final submission is mandatory. If you don't make final submission, your entry would be disqualified
  • No submissions would be entertained after the competition ends
  • Code file is mandatory while setting final submission. For GUI based tools, upload zip file of snapshots of steps taken by you, else upload code file
  • The code file uploaded should be pertaining to your final submission. If we find any discrepancy between the two, your entry would be disqualified

Team formation

  • This is an individual event

Expected conduct

  • At any point in the competition, you are expected to respect fellow hackers and act with high integrity
  • Slack Live Chat admins hold the right to blacklist/block any participant found to use foul/disrespectful language. Chat forum will be closely monitored
  • Analytics Vidhya holds the right to disqualify any participant at any stage of competition if found indulged in fraudulent practices and/or practices lacking integrity
  • Since this is a competition, you are expected to solve the problem on your own. Any discussions/hints on approach will result in your disqualification
  • The results as judged by IEOR@IITB will be final

Registration Fee

Free
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