2016

Stories related to "Faculty". http://www.chicagobooth.edu/magazine/winter-2016/rss

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Field Position

One morning last fall, before the San Francisco 49ers began their second season in a glitzy new $1.3 billion stadium, Moon Javaid, ’12, manager of business operations for the team, took a hard look at concessions. Sure, this is football. Concession sales were going to be strong. But, he asked, could they be stronger? Javaid, with his background in advanced analytics, turned to hard data for the answer. He scoured sales figures from past seasons. This led him to institute one minor but crucial change to the design of the concession stands: he redirected the queues so that they snake around stanchions, like an airport security line, at 75 points around the stadium. By the midpoint of the season, the move had increased sales by one extra transaction per line per minute since—amounting to an extra $20,000 per game, or $200,000 over the course of each season’s home games, including the preseason. It might sound like loose change—beer money—for a franchise that collected $427 million in revenue in 2014, the first season in Levi’s Stadium, in the heart of the fans and fortunes of Silicon Valley. Javaid, however, understands that the small improvements add up, and his is a top-five revenue-producing team. “In the NFL, it’s not tremendously difficult to make money,” he said. “You can do B+ work by not really doing much, and you can still be profitable. But in order to get to the next level, you need to find those little wins.”<br/><br/>

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Back to the Classroom

It’s late October, and students in a packed classroom at Gleacher Center are debating the merits of the Bank of Japan’s implementation of qualitative and quantitative easing. But these are not typical students—they’re already graduates who have returned to the classroom for the first installment of Back to Booth, a new series of two-day courses taught by faculty. The series was born when Sunil Kumar, dean and George Pratt Shultz Professor of Operations Management, envisioned ways to more deeply connect alumni with the school. Back to Booth comes as an addition to existing opportunities that allow alumni to take up to three complementary quarter-long courses, or attend discounted Executive Education programs that are typically five days long.

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A World of Connections

The United States has just recovered from the deepest and longest recession since the Great Depression. The European economy is still in deep trouble due to the euro crisis and, in particular, the Greek sovereign debt crisis. China’s growth is slowing, and the Chinese stock market just went through a meltdown this past fall. The main objective of my class is to give students the basic analytical tools to understand these types of macroeconomic events. I also want them to be familiar with phenomena such as growth, unemployment, and inflation, as well as with the impact of monetary and fiscal policy. Why do some countries grow faster than others? What determines economic fluctuations? How does being part of a global economic system affect the economy of a country? The challenge is to provide students with a unified framework to answer these questions and to critically assess the pros and cons of a variety of economic policies.

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Data and Healthcare Diagnostics

Nearly a year before his spring 2015 course began, professor Dan Adelman queried medical directors at Chicago-area hospitals to put forward their most pressing, most intractable issues—real-world problems for his MBA student teams to solve. These four challenges, from three institutions sharing unprecedented access to their data (normally a top-secret strategic asset), formed the foundation of last year’s Healthcare Analytics Laboratory: University of Chicago Medicine (UCM) wanted to evaluate a brand-new intervention—then in practice for only a few months—designed to reduce heart-failure readmissions within 30 days. Were patients leaving the hospital healthier? Was it saving money? And if it was working, could it be expanded across the hospital? UCM also sought to optimize the case mix in its vascular-surgery practice. What kinds of procedures should be their focus and specializations? How should the doctors grow their practices? What skill sets should they invest in or hire for?

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Fan Favorite

Is it gambling? Is it skill? Or perhaps the bigger question about daily fantasy sports, FBI investigation notwithstanding: Could the NFL actually learn something from the avid at-home data analysts winning big at DFS? Vince Gennaro, ’77, president of the Society for American Baseball Research, thinks so. He credits some of the current DFS boom to the popularity of the fantasy baseball played on a less-than-daily basis in the 1990s. Fans intent on winning their fantasy leagues ushered in a mainstream interest in advanced metrics. This appetite spawned a generation of websites devoted to analytics. And MLB teams actually wound up using data from those sites to support real-world decisions. “If the data is out there and in the public domain,” Gennaro said, “teams will absolutely learn from the fantasy players. But that also depends on the sport.”