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Russell Walker
Russell Walker

MANAGERIAL ECONOMICS & DECISION SCIENCES
Clinical Associate Professor of Managerial Economics & Decision Sciences
Associate Director of the Zell Center for Risk Management

Print Overview
Russell Walker, Ph.D. is the Associate Director of the Zell Center for Risk Research at Kellogg. His expertise is in the application of analytics in business, with specific emphasis to marketing and risk management decisions. He serves as the academic director for executive education in risk management offered by Kellogg through its partnership with PRMIA. His research interests include how organizations deploy analytics, the use of information in enterprise risk management, managing strategic risk, and emergence of “data creators” in the post information age.

Russell worked for seven years as a corporate strategist at Capital One Financial, where he was responsible for enterprise-wise analytics. His work at Capital One included research on new data mining techniques, leading explorative analysis on new business ventures, market entries, and new technology acquisition. Some of his major projects there include developing an integrated statistical platform for enterprise-wide analytics, evaluation of credit and marketing data for entry into the Mexican market, enhanced credit analytics in the UK market, architecting a new distributed computing solution for analysis of transactional data, use of text mining in customer data, founding and leading the enterprise-wide analytic research lab, re-engineering operations in call-centers and remittance facilities using Operations Research methods, evaluating new payment technologies, and leading and developing enterprise-wide training in applied statistics and forecasting.

At Kellogg, he brings his real-world experience to a host of new courses that he has developed, including Strategic Data-Driven Marketing, the Analytics Consulting Lab, and Operational Risk. He teaches in executive education at Kellogg, leading the Executive MBA Global Initiatives in Management (GIM) class. Russell also teaches in the executive education course on Managing Customer Relations for Profit and in the Kellogg-Sasin program in Thailand.

He has also advised or worked with numerous organizations in financial services, insurance, consumer packaged goods, retail, and software and data firms. He has also assisted start-ups and hedge funds pursuing the use of analytics.

Russell is a regularly invited speaker internationally, including at the IESE business school in Barcelona, Spain. Russell holds an executive MBA from Kellogg and an MS and Ph.D. from Cornell University. Russell is also a former director of the Virginia Hispanic Chamber of Commerce, where he led a program to assist Hispanic entrepreneurs and where he advised US Senators on US Latino issues.

Areas of Expertise
Banking and Financial Institutions
Data Analysis
Database Marketing
Information Technology
Innovation
Probability
Risk Management
Technology
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Print Vita
Education
MBA, 2006, Northwestern University
PhD, 1999, Engineering Systems, Cornell University
MS, 1997, Engineering Systems, Cornell University
BS, 1995, Civil Engineering Systems, University of South Florida, Summa Cum Laude, University-wide Honors Student

 
Print Research
Research Interests
Risk management, analytics and business intelligence, data-driven marketing, banking, analytical technologies, data mining, customer relationship management (CRM) systems

Cases
Schmedders, KarlRussell Walker and Michael Stritch. 2010. Arbor City Community Foundation (A): The Foundation. Case 5-310-502(A) (KEL585).
Schmedders, KarlRussell Walker and Michael Stritch. 2010. Arbor City Community Foundation (B): Managing Good Fortune. Case 5-310-502(B) (KEL586).
Walker, RussellMark Jeffery, Linus So, Sripad Sriram, Jon Nathanson, Joao Ferreira and Julia Feldmeier. 2010. Netflix Leading with Data: The Emergence of Data-Driven Video. Case 5-110-006 (KEL473).

 
Print Teaching
Teaching Interests
Risk management, operational risk, data-driven marketing, decision sciences, statistics
Full-Time / Part-Time MBA
Analytical Consulting Lab (ACL) (DECS-915-0)

This course counts toward the following majors: Decision Sciences, Managerial Analytics, and Operations

The Analytics Consulting Lab is a practicum for students interested in developing deep skills in analytics. In this course, students apply classroom concepts and techniques to a real-world analytical task in which they use data to support a managerial decision. Working in a group, students will call upon techniques and theories such as statistics, multivariate regression, optimization, stochastic simulation, decision tree analysis, time series analysis, forecasting, real options, risk analysis, data mining, and discrete event simulation. The projects, pre-approved by faculty, will touch many industries and aspects of business management. A second MEDS course that supports the project is also required. Note: This course may not be dropped after the first week of the quarter.

Analytics Consulting Lab (ACL) (DECS-915-A)

This course counts toward the following majors: Decision Sciences, Analytical Consulting, and Operations

The Analytics Consulting Lab is a practicum for students interested in developing deep skills in analytics. In this course, students apply classroom concepts and techniques to a real-world analytical task in which they use data to support a managerial decision. Working in a group, students will call upon techniques and theories such as statistics, multivariate regression, optimization, stochastic simulation, decision tree analysis, time series analysis, forecasting, real options, risk analysis, data mining, and discrete event simulation. The projects, pre-approved by faculty, will touch many industries and aspects of business management. A second MEDS course that supports the project is also required.

Analytics Consulting Lab (ACL) (DECS-915-B)

This course counts toward the following majors: Decision Sciences, Analytical Consulting, and Operations

The Analytics Consulting Lab is a practicum for students interested in developing deep skills in analytics. In this course, students apply classroom concepts and techniques to a real-world analytical task in which they use data to support a managerial decision. Working in a group, students will call upon techniques and theories such as statistics, multivariate regression, optimization, stochastic simulation, decision tree analysis, time series analysis, forecasting, real options, risk analysis, data mining, and discrete event simulation. The projects, pre-approved by faculty, will touch many industries and aspects of business management. A second MEDS course that supports the project is also required.

Global Lab (G-Lab) (INTL-915-0)

This course counts toward the following majors: International Business.

This experiential learning course provides a hands-on opportunity for students to apply classroom knowledge to a real-world problem. In the Global Lab course, four or five students complete an international consulting project for a host company during the winter quarter that culminates in two weeks of on-site research and presentation to senior management. The host company and student team work together to determine the project's scope and parameters, and the team completes each week's research by meeting with an expert faculty adviser. The host company provides feedback that is used in grading students and covers travel expenses for the on-site visit. Students must have completed all core courses with the exception of OPNS-430 which can be taken concurrently in the Winter quarter. For practical purposes, this limits enrollment to students in their second year of the full-time program and those in the one-year program. Part-time program students who have fulfilled their core requirements are also eligible to take the course. Note: This course may not be dropped after the first week of the quarter.

Strategic Data-Driven Marketing (MKTG-952-0)

This course counts toward the following majors: Technology Industry Management.

In today’s environment, Chief Marketing Officers require tools and techniques to both quantify the strategic value of marketing initiatives, and to maximize marketing campaign performance. This course is designed to help marketers demonstrate the return on investment (ROI) of marketing and leverage data from marketing analytics to make better and more informed marketing management decisions. The course covers marketing performance management, marketing measurement, marketing ROI, customer value based segmentation, customer lifecycle management, internet search engine marketing optimization, data mining segmentation, analytic marketing, and strategic marketing data creation. Students are introduced to typical data mining techniques for marketing, have access to real data sources, and will conduct hands-on marketing analysis using data mining tools. This class counts towards the Marketing and Marketing Management major.

Analytical Decision Modeling (OPNS-450-0)

This course counts toward the following majors: Decision Sciences, Managerial Analytics, Operations.

This course focuses on structuring, analyzing and solving managerial decision problems on Excel spreadsheets. We address problems of resource allocation (how to use available resources optimally), risk analysis (how to simulate the effects of uncertainty in problem parameters), decision analysis (how to analyze sequential decisions involving uncertainty), data analysis (how to synthesize the available data into useful information) and forecasting (how to extrapolate past observations into the future). In each area, we pose specific problems from operations, finance and marketing, structure them on Excel spreadsheets, and analyze and solve them using the available Excel commands, tools and add-ins. The course involves a hands-on, in-class learning experience in modeling and analyzing a variety of business decision problems on a common spreadsheet platform. It should, therefore, enhance one's problem-solving capabilities as well as spreadsheet skills. A good working knowledge of Microsoft Excel is required. Prerequisites: OPNS-430 and FINC-430/FINC-440. May be taken concurrently.

Enterprise Technology Management (Formerly TECH-442-0) (OPNS-458-0)
This course gives managers essential skills for executive oversight of enterprise technology, which is a significant component of practically all business initiatives. Topics covered include return on investment for e-business projects, enterprise resource planning deployment best practices, customer relationship management, enterprise data warehousing, analytic marketing, strategic outsourcing, project and program management, risk management, and strategic alignment of information technology through IT portfolio management. Lectures are complemented by real-life case discussions of strategic and management issues for enterprise technology and include cases on leading technology companies such as Google, Cisco, Microsoft, Oracle and Salesforce.com.

Enterprise Risk Management (OPNS-923-0)

This course counts toward the following majors: Operations, Managerial Analytics

In Enterprise Risk Management, we develop a holistic approach to the identification and management of risks facing an organization. Typically recognized forms of risk, such as Operational Risk, Credit Risk and Market Risk are explored in detail. The impact of shocks to enterprises and the role of liquidity risk and the importance of protecting against it are reviewed. The role of operational risks, such as those a rising from reliance on complex systems, outsourcers, international supply chains, lean processes, and external shocks pose perhaps the greatest risk to firms in the post-globalization era and are reviewed accordingly. This course provides frameworks for identifying, quantifying, and managing risks to the overall enterprise and offers direction on the formulation of a successful risk office and its appropriate integration with corporate strategy.

Executive MBA
Global Initiatives in Management (INTLX-473-0)
Global Initiatives in Management combines classroom study with a 12-day research trip abroad to observe overseas business operations firsthand and to meet with industry executives and political leaders.

Strategic Data-Driven Marketing (MKTGX-455-0)
In today’s environment, Chief Marketing Officers require tools and techniques to both quantify the strategic value of marketing initiatives, and to maximize marketing campaign performance. This course is designed to help marketers demonstrate the return on investment (ROI) of marketing and leverage data from marketing analytics to make better and more informed marketing decisions. The course covers marketing performance management, customer relationship management strategy and execution, strategic marketing measurement, and analytic marketing and value driven segmentation. Content covered is especially applicable to those covering broad customer connection initiatives and those leveraging the use of CRM infrastructure.