Many to One: The Costs and Benefits of Summary Measures

Evaluating the impact of an athlete’s performance on a team, deciding on a treatment plan for a cancer patient and evaluating how to encourage people to manage their weight are all interesting and carefully studied problems. In these examples and many others, decision makers often ultimately rely on scoring systems that reduce high dimensional data to a single value. We present the ways that scoring systems are similar across many applications, how they provide insights, how they can lead to difficulties and how they can be evaluated and improved.

Light refreshments will be provided. Come join us!

Presented by Rick Cleary, Professor of Mathematics and Statistics and Weissman Family Chair of Business Analytics at Babson College