Manu Carricano, Director of the Institute for Data-Driven Decisions (ESADEd3), talks about the group's projects, recent activities and future plans. EK: What is the ultimate goal of the Institute for Data-Driven Decisions (ESADEd3)? Manu Carricano: The ultimate goal of ESADEd3 is to become Europe's leading platform on data-driven decisions. This means we are, for the first time, bringing together the fields of decision science and behavioral economics, on the one hand - the area in which Richard Thaler won last year's Nobel Prize - and the fields of data science and artificial intelligence, on the other. We are in an era where algorithms are starting to make decisions for us, so bringing decision science and data science together is a very important way to control what is already going on or will happen in the very near future, monetize data initiatives, think better with data, and have an impact on business and society. How is your group contributing to marketing? The institute brings together various departments at ESADE, as we are a large group of researchers from the fields of marketing, behavioral economics and experimental design but also professors and researchers from the Department of Operations, Innovation and Data Science. As I said, we bring together two different fields in order to address a variety of research questions. The first question is how people make decisions in the marketplace. How do they operate? How do they make choices? What are their biases in making decisions? The other issue is what tools and methodologies can help or provide a different way of solving marketing, financial, operational or human resources problems. We can, for example, through artificial intelligence optimize decisions, automate workflows, be more efficient and deliver more impact. And the last question is more general: What is the place of humans in the loop of technological progress? How will machines augment human capabilities and decisions? This is a major subject. How will facilities like the Decision Lab help to accomplish that goal? At ESADEd3, we can provide a strong background on methodologies and tools but also in experimental designs. And that is where the Decision Lab brings facilities and access to participants and tools, providing a very important asset for ESADE in order to deliver high-impact research. We bring methodologies from different areas of ESADE to provide a novel approach to data-driven decisionsWhat are your plans for this academic year? This year is already quite packed with events, as ESADEd3 is based on three pillars. The first pillar is research, and we are targeting top-tier publications. The second pillar is education. This year, we have started two new programs. The first is the Master of Science in Business Analytics, which provides a very novel approach to data science for business and offers students a very solid analytical background and tools to solve business problems. We also offer programs at the executive level. We have the Executive Master in Business Analytics, a one-year program for managers who lead the analytical transformation. Finally, we have an intensive 10-week course on data-driven decisions that targets senior executives (Big Data Analytics for Executives). The last pillar of ESADEd3 - our think tank - is very important because it bridges the gap between the other two. This group aims to improve ESADE's engagement with leading companies through a series of events, actionable methodology showcases and hackathons, conferences, and data-related projects linking companies and students. How will you bridge the gap between research and practice? All these programs and activities will in fact be research-to-the-classes sessions, in terms of cutting-edge concepts as well as bringing advanced methodologies in experimental design and data science to the classrooms. By working in these fields all together, we are able to develop in-house methodologies. For example, a workshop we are going to run - "Designing Data Products" - has been developed from a new methodology we bring to the classes that aims to link design thinking to the design, creation and delivery of data products. Thus, we bring methodologies from different areas of ESADE to provide a novel approach to data-driven decisions. There will be more examples like that over the course of the year. And everybody is welcome to participate!

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"We are bringing together the fields of decision science, behavioral economics and data science"

05/2018

Manu Carricano, Director of the Institute for Data-Driven Decisions (ESADEd3), talks about the group's projects, recent activities and future plans.


EK: What is the ultimate goal of the Institute for Data-Driven Decisions (ESADEd3)?


Manu Carricano: The ultimate goal of ESADEd3 is to become Europe's leading platform on data-driven decisions. This means we are, for the first time, bringing together the fields of decision science and behavioral economics, on the one hand - the area in which Richard Thaler won last year's Nobel Prize - and the fields of data science and artificial intelligence, on the other. We are in an era where algorithms are starting to make decisions for us, so bringing decision science and data science together is a very important way to control what is already going on or will happen in the very near future, monetize data initiatives, think better with data, and have an impact on business and society.


How is your group contributing to marketing?


The institute brings together various departments at ESADE, as we are a large group of researchers from the fields of marketing, behavioral economics and experimental design but also professors and researchers from the Department of Operations, Innovation and Data Science. As I said, we bring together two different fields in order to address a variety of research questions. 


The first question is how people make decisions in the marketplace. How do they operate? How do they make choices? What are their biases in making decisions? The other issue is what tools and methodologies can help or provide a different way of solving marketing, financial, operational or human resources problems. We can, for example, through artificial intelligence optimize decisions, automate workflows, be more efficient and deliver more impact. And the last question is more general: What is the place of humans in the loop of technological progress? How will machines augment human capabilities and decisions? This is a major subject.


How will facilities like the Decision Lab help to accomplish that goal?


At ESADEd3, we can provide a strong background on methodologies and tools but also in experimental designs. And that is where the Decision Lab brings facilities and access to participants and tools, providing a very important asset for ESADE in order to deliver high-impact research.


We bring methodologies from different areas of ESADE to provide a novel approach to data-driven decisions


What are your plans for this academic year?


This year is already quite packed with events, as ESADEd3 is based on three pillars. The first pillar is research, and we are targeting top-tier publications. The second pillar is education. This year, we have started two new programs. The first is the Master of Science in Business Analytics, which provides a very novel approach to data science for business and offers students a very solid analytical background and tools to solve business problems. We also offer programs at the executive level. We have the Executive Master in Business Analytics, a one-year program for managers who lead the analytical transformation. 


Finally, we have an intensive 10-week course on data-driven decisions that targets senior executives (Big Data Analytics for Executives). The last pillar of ESADEd3 - our think tank - is very important because it bridges the gap between the other two. This group aims to improve ESADE's engagement with leading companies through a series of events, actionable methodology showcases and hackathons, conferences, and data-related projects linking companies and students.


How will you bridge the gap between research and practice?


All these programs and activities will in fact be research-to-the-classes sessions, in terms of cutting-edge concepts as well as bringing advanced methodologies in experimental design and data science to the classrooms. By working in these fields all together, we are able to develop in-house methodologies. For example, a workshop we are going to run - "Designing Data Products" - has been developed from a new methodology we bring to the classes that aims to link design thinking to the design, creation and delivery of data products. Thus, we bring methodologies from different areas of ESADE to provide a novel approach to data-driven decisions. There will be more examples like that over the course of the year. And everybody is welcome to participate!

Back to home