Thursday, November 29, 2012

EC3 competion integrates business analytics into economic strategy

The winning team of Rob Jiang, Shirin Baradaran and Jeff Carlson present their solution.

EC3: It's a small name with a big impact.

The annual Economic Consulting Case Competition brings together students from many disciplines across the  campus of Indiana University, including every major at the Kelley School of Business. The event is competitive, with 15 teams of three students each making the cut.

Sponsored by Nielsen, the annual case competition involves economic strategy using data analysis, allows students to apply classroom skills to a specific business situation and provides practical experience in teamwork and presentation.

Students also get to learn more about and network with representatives of Nielsen, the global leader in consumer understanding. And the money isn't bad, either: $1,500 to the winning team, $900 for second place, $600 for third place and $300 for fourth place.

Michael Golodner of M.D.M. Consulting
makes his case.
This year's case revolved around a fictitious product launch in the natural energy drink market. Teams performed data analysis and modeling using a year's worth of actual Nielsen data from the drink industry and a Nielsen evaluation of the new concept. The goal? Recommend an optimal price for the drink and be prepared to defend it.

The teams got the case on a Monday night and had to have their suits pressed and 20-minute presentations ready by the following Friday.

The presentations were judged by faculty from the Department of Business Economics and Public Policy, which organizes the competition, and representatives from Nielsen, many of whom are Kelley alums. 

First Place: Beta1Hats -- Shirin Baradaran (senior; BEPP, legal studies), Jeff Carlson (senior; BEPP) and Rob Jiang (senior; BEPP, technology management).

Second Place: Team America -- Caleb Williams (junior; marketing, BEPP), Miles Simmons (junior; economics, political science) and Jared Swihart (senior; economics, mathematics, geology).

Third Place: M.D.M. Consulting -- Michael Golodner (sophomore; BEPP, finance), Matthew Lim (sophomore; BEPP, technology management) and Delgerbat Uvsh (senior; finance, accounting).

Fourth Place: Team Insight -- Kate Lukaszewski (junior; economics, LAMP), John Glennon (junior; economics, political science, LAMP) and Bob Nommensen (junior; economics).

PHOTOS: See more of the case presentations at the Kelley School Facebook page.

VIDEO: Kelley alum Kate Duffy talks about how BEPP prepared her for a job with Nielsen.

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