Tradeoff Analytics is a Watson service that helps people make decisions when balancing multiple objectives. The service uses a mathematical filtering technique called “Pareto Optimization,” that enables users to explore tradeoffs when considering multiple criteria for a single decision. When your company makes decisions, how many factors need to be considered? What’s the process like? How do you know when you’ve found the best option? With Tradeoff Analytics, users can avoid lists of endless options and identify the right option by considering multiple objectives.
Tradeoff Analytics can help bank analysts or wealth managers select the best investment strategy based on performance attributes, risk, and cost. It can help consumers purchase the product that best matches their preferences based on attributes like features, price, or warranties. Additionally, Tradeoff Analytics can help physicians find the most suitable treatment based on multiple criteria such as success rate, effectiveness, or adverse effects.
A decision problem with objectives and options (for example, what is the best car when my goals are type, price, and fuel economy?)
JSON objects that represent the optimal options and highlight the trade-offs between them. The service recommends using a provided client-side library to consume its JSON output.
When shopping for a phone, a user wants to consider the importance of price, screen size, battery life and weight. By adjusting a set of scales coordinated to each factor (price, screen size, etc) the user can explore the best options and make tradeoffs among each of the factors.
Deciding on your next home can be overwhelming. There are so many different options to weigh and consider. See how Tradeoff Analytics can help you narrow your choices and get help deciding what’s right for you.