Optimization Offers a Solutions-centric Culture
IBM’s Decision Optimization Center provides a platform to help businesses solve difficult planning and scheduling challenges with the use of analytics. Decision Optimization is the third component of analytics. It is the action step that works alongside descriptive and predictive tools.
How Decision Optimization Is Used
Decision Optimization is used for planning decisions, scheduling, and helping your business make a data-based decision when large numbers of options are up for consideration. Decision Optimization takes a holistic view of a problem and suggests solutions in the form of plans and schedules.
Academic fields that address the problems that IBM Decision Optimization Center solves include:
- Operations Research from engineering
- Management Science from business
- Constraint Programming from computer science
Types of questions answered:
- What are the best actions to take to reduce predicted customer churn?
- What maintenance should we do to avoid the predicted failure in the machine?
- Given this customer’s past spending level and products purchased, which product should I offer to cross-sell?
Recommend Prescriptive Actions Based on Predictions
Sophisticated artificial-intelligence rules and mathematical optimization techniques synthesize information. Using predictive analysis, this system suggests prescriptive decision options and actions.
Decision makers are shown the implications of each available option. They will be able to see the results of each decision, which allows them to determine how to take advantage of future opportunities or mitigate future risks.
More advanced features allow companies to selectively embed analytics into their workflow processes. This allows companies to pre-optimize and automatically prescribe reactions specific to a situation.
QueBIT’s Value in the Prescriptive Analytics
QueBIT’s team of engineers, mathematicians, and data scientists is well-versed in solving real-world problems. These experts also create integrated analytics solutions built on several components.
These analytics solutions include:
- IBM SPSS Modeler – Generate a predictive demand forecast
- IBM Decision Optimization – Generate a capacity plan
- IBM Cognos TM1 – Incorporate demand forecasting and capacity planning into a financial model to produce product and department-level P&Ls in real time
- IBM Cognos Business Intelligence – Utilize a dashboard that provides a rich, interactive user experience