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BOW Consulting: Bridging Math and Industry for Student-Faculty Collaboration

The Babson-Olin-Wellesley (BOW) Consulting program fosters community and collaboration among students and faculty from three colleges. It showcases real-world applications of advanced math and statistics through projects with industry partners. Students work in teams to tackle complex problems, benefiting from lectures by professionals and gaining credit through independent study. With project deliverables including reports and presentations, participants gain valuable experience, bridging academic theories with practical applications in fields such as finance and operations.

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BOW Consulting: Bridging Math and Industry for Student-Faculty Collaboration

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  1. Babson-Olin-Wellesley (BOW) Consulting • Goals: • Build community among students/faculty across three colleges interested in applications of math. • Introduce participants to how advanced math and statistics are used in the real world to analyze and solve complex problems. • Offer faculty and students a glimpse into how math is used in industry through lectures from professionals who use math.

  2. Program Overview • 3 projects, 2 with Boston Scientific (supervised by Prof. Oscar E. Fernandez, Wellesley math) and 1 with BigBelly (supervised by Prof. Nathan Karst, Babson math) • 20 student applications, 14 chosen (4 Babson, 10 Wellesley) • Teams of 4-6 students, grouped by project preference and relevant background • Students received credit (independent study); company paid $0 in fees • Students required to meet with each week for an hour with faculty advisor and also in their teams • 2 speakers, from Bank of America and Chubb Corp., gave lectures on using math in finance and actuarial science

  3. Project Information • Spring semester only: project length was about 10 weeks • Project deliverables: • (1) Final report • (2) Final presentation to company liaison • Project Titles: • A Bayesian Approach to Quality Control • Management • A Global Pricing Strategy for Stents • Optimizing Trash Collection for BigBelly

  4. Project Feedback • Student Feeback: • “The most valuable features of the program were putting the theory that is learnt in coursework into a practical application” • “A great change of pace from the standard problem sets / exam format of my other classes” • “It was fun to see how math and computer science are used in daily life!” • “I also really liked getting the chance to work in a group” • “I think this was a good way to get a taste of what consulting is like in a safe environment” • “I also really appreciate the cooperative aspect of the project. Our team works very well together, and I was inspired a lot by my teammates”

  5. Project Feedback Company Feeback: “Extremely high quality presentation and final report” “Impressed by the students’ professionalism and drive to accomplish the project” “I thought the backgrounds of the students chosen to participate were very well-suited to the subject matter” “Great program”

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