The Value Of A Company Is The Sum Of Its Decisions
Pascal Bornet (Author of "Intelligent Automation")
Better Business Decisions
Business decisions often blend instinct and analysis, with 44% based on data and 56% guided by instinct (study). While gut feelings play a significant role, leveraging data for decision-making can enhance outcomes. Decision Intelligence embodies this concept by utilizing data and advanced optimization techniques to improve decision-making processes. It involves harnessing analytical insights to make better decisions, plan strategically for the future, and solve complex problems efficiently. Through Decision Intelligence, organizations can transform raw data into actionable intelligence, fostering smarter, data-driven choices that propel growth and innovation.
The Journey to Decision Intelligence
Cost vs. Benefit
Definition of Goals | Evaluation of Potential | Costs and Risks
Data Collection
Observe and Measure | Connect with Stakeholders | Exploratory Data Analyses | Machine Learning
Business Goals & Rules
Formulate Objective | Identify Rules
Formulate Model
Model | Validate Results | Verify Scalability | Iterate
Rollout
Measured and Controlled | Monitor | Tune
Same Same, but Different
Decision Intelligence vs. Optimization vs. Operations Research
Decision Intelligence, Optimization, and Operations Research might seem synonymous at first glance as they all involve formulating solutions to complex problems, but they each bring distinct nuances.
Operations Research (OR) is well-known for its focus on developing and applying mathematical models and analytical methods to solve complex decision-making problems. A key aspect of OR is its use of Optimization Techniques, like Integer or Mixed-Integer Linear Programming, which play a crucial role in finding the most efficient or optimal solution from a set of available alternatives. This optimization is instrumental in streamlining operations, making better resource allocation decisions, and enhancing overall organizational decision-making processes. Classic optimization problems include finding the shortest delivery routes, optimally packing objects into boxes, or finding the best staffing schedule.
Decision Intelligence is a powerful evolution of Operations Research. It harnesses the potential of data-driven models to give businesses more control over their decision impacts and empowers them to make better and more efficient decisions.
Need an example? With machine learning, we can model and predict a shop floor’s capacity, utilization, and other factors. With Decision Intelligence methods, we can elevate that model and optimize the shop floor configuration for a desired outcome, like fewer staff overtime hours, higher throughput, or better quality.
Optimization Playground
Optimal Bin Packing
This web app demonstrates optimized bin packing, a powerful algorithmic technique used to efficiently pack items of different sizes and shapes into a fixed space. We used Gurobi to find the optimal solution that minimizes wasted space and maximize the utilization of the van up to 86.4%. How well can you do the job?
Gurobi Optimization
Optimizer
The Gurobi Optimizer is a powerful solver for a wide range of optimisation problems, for example Linear Programming, Quadratic Programming, Mixed-Integer Linear Programming.
By formulating a problem as a mathematical models, a solver like the Gurobi Optimizer can consider trillions of possibilities and find the best one, while respecting a large number of constraints.
As a prime Gurobi Alliance Partner in Switzerland, we are experts in using the Gurobi Optimizer to help providing you a solution for your optimization problems.