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Professor Zbigniew Michalewicz (email)
School of Computer Science
The University of Adelaide
Business: +61 8 8303 4130
Mobile: 0422 813 996
Mr David Ellis (email)
Media and Communications Officer
Marketing & Communications
The University of Adelaide
Business: +61 8 8313 5414
Mobile: +61 421 612 762
Tuesday, 10 July 2007
A new family of systems devised by University of Adelaide researchers - called Adaptive Business Intelligence - could revolutionise the way businesses make decisions.
South Australian business leaders and members of the public will hear more about the system at the latest of the University of Adelaide's free Research Tuesdays seminar series tonight (5.30pm, Tuesday 10 July).
Adaptive Business Intelligence uses scientific-based techniques to help businesses predict and respond to issues related to their business.
"In the modern information era, managers must recognise the competitive opportunities represented by decision-support tools," says Professor Zbigniew Michalewicz from the University of Adelaide's School of Computer Science.
"Adaptive Business Intelligence aims to provide significant cost savings and revenue increases for businesses by providing them with a system that enables good, profitable decision-making."
Professor Michalewicz is co-author of a book on Adaptive Business Intelligence and the course based on this book was offered to postgraduate students last semester.
In his Research Tuesday talk, The Science of Making Profitable Decisions, he will explain how Adaptive Business Intelligence works and, using real-world examples, how it addresses the fundamental questions: What is likely to happen in the future? And what is the best course of action?
He says that the "ability to make smart decisions" is so much more than just "knowledge".
"Understanding everything in an encyclopaedia does not necessarily help you in making better decisions - it just means you have knowledge.
"In the real world, data is coming in every day, so we need to be able to use that data to predict and respond to situations in ways that will enable us to benefit. This is extremely important for business," he says, "because the best decision today may not be the best decision for tomorrow."
The Australian Computer Society and a number of Australian-based companies have already adopted Adaptive Business Intelligence as part of their professional education programs.
"The support from the business world itself for Adaptive Business Intelligence has already been strong, and I suspect that support will grow as more people in business understand how it can help them," Professor Michalewicz said.
Professor Michalewicz has published more than 200 articles and 15 books on the subject of predictive data mining and logistics optimisation. He is well respected within business, and last year was appointed a Business Ambassador for South Australia by Premier Mike Rann.
The Research Tuesdays public seminars - held on the second Tuesday of every month - are an initiative of the University of Adelaide, giving leading researchers an opportunity to engage with business, community leaders and the general public on issues that impact on them.
WHAT: "The Science of Making Profitable Decisions" by Professor Zbigniew Michalewicz