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Prescriptive Analytics Is Easier And More Profitable Than Predictive Analytics
When you hear about algorithms these days, chances are that you hear about machine learning or predictive analytics. (Some make a distinction between machine learning and predictive analytics, but the distinction is not material for this post. I'll use both interchangeably here). A quick search returns recent discussion in the news of machine learning algorithms: Using Algorithms to Determine Character , When Algorithms Discriminate ,... [More]
Tags: optimization analytics predictive prescriptive |
Optimization Is Ready For Big Data: Part 1, Volume
I had the honor to give a tutorial at a Big Data and Optimization seminar, thanks to an invitation from John Poppelaars , One of the topics I discussed seemed to resonate well. Let me try to explain it here. The first thing people think of when they hear about Big Data is large data volume. There are other dimensions than volume in Big Data, see Big Data For Dummies for instance, but let's focus on large data sets. Is current optimization technology ready for the huge data sets available now... [More]
Tags: predictive optimization prescriptive big_data analytics |
Analytics For Vehicle Routing (and for Santa)
How could we have helped Santa deliver its gifts as fast as possible? An OR practitioner will probably model Santa's problem as a traveling salesman problem ( TSP ). Indeed Santa needs to compute the shortest route through all kids homes. The same OR practitioner may also want to model that deliveries must occur at night. Instead of a TSP, the problem becomes a vehicle routing with time windows (VRPTW) problem. Although common wisdom, these models may miss the point as we shall see below. Before discussing what might... [More]
Tags: predictive prescriptive analytic optimization |
Prescriptive vs Predictive Analytics Explained
Imagine for one second that you are Loïc Peyron , the recent winner of the transatlantic yatch race La Route Du Rhum . What would you use to reach your destination as fast as possible? Of course, you would work on getting the fastest possible yacht. You would also train to maneuver your ship the best possible way. But once the race is on and you're on the sea, what tools would you use to decide in which direction you should steer the ship? Credit: Wikipedia For several thousand... [More]
Tags: predictive optimization prescriptive analytic |
What Is The Difference Between SPSS And ILOG ?
Sure, I would have preferred a more generic title, such as What is the difference between predictive analytics and prescriptive analytics? What is the right decision management technology I need? instead of the IBM specific What is the difference between SPSS and ILOG? Truth is that this is the question people ask us when they understand that analytics may help them, The other questions above assume some knowledge of analytics and decision management, which isn't widely spread as of today. Let's look at the question... [More]
Tags: spss ilog predictive analytics prescriptive optimization |
Nice Graphics Always Win
I remember the first demo I made. It was last century, in 1990 if I remember well. No, I wasn't using punch cards. Believe it or not, but at that time there were computers with a mouse, a windowing system, decent programming languages, and a good OS called Unix. Yes, this old fashioned ancestor of Linux and Mac OS X. Even Internet existed back in those old days... Anyway, here was I, so proud that my solver was able to solve the zebra puzzle . The demo went as follows. I press... [More]
Tags: analytics optimization predictive |
