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1 ManuelAlcaraz(IBMw3-dW) commented Permalink

I would like to share a new trend in the idea of "decision making", associated with its confidence. That confidence will never be 100% certain. And applied in the business of software development-and-delivery, a very interesting post about the *mindset change* can be found here:
traditional plan-and-track versus measure-and-steer. Optimality is a luxury...

2 JeanFrancoisPuget commented Permalink

Being proactive does not mean you plan once and for all, and then monitor progress against plan. It is a well established practice in industry to reoptimize (or replan, reschedule, you name it) regularly as time goes. I'll provide examples in later posts. To your point, I wouldn't say that optimality is a luxury in general. I'd rather say that in an uncertain environment the meaning of optimality has to be carefully defined. Some definition may lead to a notion of optimality that cannot be computed in a reasonable amount of time. This is when optimality becomes a luxury.

3 PaulRubin commented Permalink

I happen to like "prescriptive" (although there is a "take your medicine!" connotation that might put potential clients off a bit), and I trend to have an unfortunate automatic reaction to the word "proactive" ("Duck! Incoming marketing hype!"). I'm not sure there are any better alternatives, though. Maybe "directive analytics" (steers you in the right direction)?

4 JeanFrancoisPuget commented Permalink

Paul, you are right, this is about marketing. This is about positioning our value in the Big Data and Analytics landscape. This messaging is not for OR experts. These experts probably prefer prescriptive analytics as it is a bit more general than proactive analytics. These OR experts do not need to be explained what optimization value is. However, data scientists may not get the value of optimization. Defining it as an enabler for being proactive resonates quite well AFAIK.