Abstract:
Big Data is a shortcut for a very interesting phenomenon: we now have data about almost everything. The value of Big Data is to use data to make better decisions. Optimization, being the science of better decisions, has a natural role to play here. However, managing and using data can be challenging. Indeed, data can come in very large volumes. It can also come in a large variety of forms (eg audio, video, free text, text feeds, sensor measures, etc). Data can also be in motion (streamed) as opposed to be at rest. Each of these Big Data dimensions (volume, variety, velocity) create challenges and opportunities for optimization techniques and applications. We will review these challenges and explore potential approaches. We will also provide some actual examples where Big Data and Optimization are used together in new, innovative, applications.