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Smart City Orchestration via Integrated Decision Analytics
This presentation examines Smart City orchestration from an Operations Management / Management Science perspective using hand-on examples.
Driven by a futuristic vision of sustainable urban environments, the Smart Cities concept has excited the enthusiasm and imagination of a broad range of stakeholders. With over 50% of the Earth’s population living in urban areas, a number predicted to top 70% by 2050 (according to the UN Department of Economic and Social Affairs), it is clear that better architected cities would greatly benefit broad human welfare. The most rapidly growing urban areas are in developed countries, where squalor and environmental degradation threaten to steadily move hand-in-hand with so-called progress.
Clearly, while there is the luxury to speculate on such utopian visions as the Smart City currently, the inertia of urbanization combined with global population growth, climate change, socio-economic instability, and natural resource constraints promise to make this a more pressing and urgent need in the next two decades. However, is this but a case of a buzzword propelled by well-meaning hype? While a great deal of speculative scenarios have been spun advocating the Smart City vision, tangible specifics are at best diffuse and at worst tenuous. What are the operational prospects for streamlining future cities? Moreover, what of the implied complex problems which inter-system urban dependencies create? The biggest stumbling block to Smart Cities is the inability of focused stakeholders to make complex decisions in environments of complexity.
Enter integrated decision analytics to coordinate thorny system-of-system urban orchestration and planning problems. Integrated analytics is an ideal vehicle for conducting the deep analysis needed to separate the hype from the tangible economic value-driven factors needed to ‘green light’ Smart City initiatives. This presentation makes the case for value creation via deep, integrated decision analytics. A special focus concerns integrating financial engineering and analytics-based value analysis. Starting with targeted hands-on example cases, the presentation progresses to show how integrated analytics is a keystone in the prospect for moving the Smart City vision from wishful-thinking to executable specifics.
Founder and Lead Consultant, SARK7