The Reddick Lecture (Modelling and Competition)
Abstract
The InFoMM CDT presents The Reddick Lecture Dr. Nira Chamberlain (Holland & Barrett) Modelling the Competition Friday, 15 February 2019 17:00- 18:00 Mathematical Institute, L1 Followed by a drinks reception
It can be argued that any market would not survive without competition. It is everywhere; you can't run away from it. Competition can cause a business to either thrive, survive or die. So one might ask, why is there a need to mathematically model the competition? Two quotes may help to answer this: "Business is a game played for fantastic stakes, and you're in competition with experts. If you want to win, you have to learn to be a master of the game" Anon. “You can't look at the competition and say you're going to do it better. You have to look at the competition and say you're going to do it differently." Steve Jobs In this talk, I wish to demonstrate how mathematical modelling can be used to "master the game" and "do things differently". I will be focusing on three real life examples: Bidding to provide service support for a complex communication asset - dynamic travelling repairman Increasing market share in the Energy Sector - Markov Chain Retail's shop Location Location Location Location - Agent Based Simulation