Decision Science in Action

I had heard during my  childhood period that science has no boundaries now I am experiencing it. One of my friend from IITK finished his BE and M Tech in Mechanical and now pursuing PhD from Biology department in one of the best University of USA. Another friend completed his graduation in Electronics and now pursuing PhD in pharmacology. By this blog I would like to share some information on studies and research in Interdisciplinary field being carried out in India especially in IITs. IITs offers many PhD and M Tech programs in  interdisciplinary field. What is interdisciplinary Program. - Interdisciplinary Program can be defined in two ways 1. Any program which is offered jointly by two or more engineering/science departments. It means faculties from different field collaborate and undertake research jointly with common objective. For example in IOER program at IIT Bombay faculties from Electrical, Mechanical,Mathematics and Business School jointly undertake ...

There are several fraud claims in insurance industry. The manufacturing industry also suffers with similar fraud claims. The manufacturers sells the product in the market with warranty or guarantee of good quality. They also promise to replace or repair the product according to the agreed policy. Based on the extent of risk and product life pricing of the selling product is decided.  Manufacturers receive several warranty/guarantee claims in a year. Many of them are fraud claims. Identifying the authenticity of claims is rigorous and laborious process. But in the era of the machine learning and data analysis the cost and time of above process can be reduced.  I am discussing here a process that can be used to identify the veracity of the claim. This process framework is based on the machine learning algorithms. I believe that this framework has capability to reduce the time and cost required to investigate any claim manually.  The process flow of th...

The internet boom has metamorphosed our life. We are getting everything from books to furniture on e -stores. So is education sector also. Knowledge creation and distribution  has always been regarded as the noble profession. We all respect those who are in this profession. They are not only imparting their knowledge to their students but have uploaded their lectures on the internet which can be accessed by anyone for learning. Formally, this kind of video lectures available online are called Online Open Course Ware (OOCW). Number of renowned Universities like Stanford, Princeton, IITs have provided access to their video lectures free of any term. There are also private players  like Coursera, Open learning etc have joined hands with Universities to spread the knowledge all over the world. The special course designed for larger audience is delivered in innovative way like in Coursera. In Coursera upcoming course lecture is announced about 8-7 weeks before the comme...