We have a real-world impact on organisations and society in the areas of operations, risk, analytics, and management science. We do this through innovative research, transformative education and industry partnerships.
Knowledge Transfer Partnership scheme
We’ve worked with organisations such as Logical Transport and the Royal National Lifeboat Institution
About the Department of Decision Analytics and Risk
We're a department within Southampton Business School (SBS). Through our research, we aim to transform business and society for the better. We shape the way industries embed analytics and management science into their business operations. We do this by providing organisations with the scientific tools to make risk-informed decisions.
We nurture the next generation of specialists in decision risk and analytics. We teach across SBS's accredited postgraduate and undergraduate courses. This includes business analytics and research methods courses and the MBA. Our Operational Research and Statistics is ranked 39th in the world and 7th in UK in the QS rankings 2023. We are also 11th in the UK for Business Analytics.
Organisations can also benefit from the knowledge and skills of our master’s students. We have a scheme which connects master’s students with an external sponsor organisation. Students carry out a 3-month project for their sponsor. Sponsors span a range of sectors including:
industrial
manufacturing
engineering
transportation
retail
financial
service
Research
Through our research we develop innovative analytical approaches to decision-making, risk management and strategic planning. Our expertise in decision analysis, enables us to make a difference to organisations strategically, tactically, and operationally. We have 4 members of the department in the list of the world’s top 2% of scientists by Stanford University.
Marine autonomous vehicles
Our research on the risk and reliability of marine autonomous systems has enabled a UK company to meet the risk and safety levels needed to:
break into the profitable oil and gas market, securing a large market share
invest £500,000 in a new risk and reliability department
create two new high-skilled jobs
form collaborations with other industry leaders
We collaborated with leading manufacturers of unmanned vessels and the Canadian Government to help the company embed our probabilistic modelling into the development process for its autonomous surface vehicles.
Healthcare in Sri Lanka
The Sri Lankan Ministry of Health is using computer simulation models based on our research to plan recruitment and training. As a result:
over 1.5 million people with no previous access to state-funded care are able to visit a dentist once a year
the number of unemployed qualified dentists has fallen to zero
Key publications
We have also have published articles in leading journals including:
My aim is to predict and improve real-world risk-taking and decision-making by developing an understanding of the factors which influence decisions in wider financial markets, through the application of AI.
