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Category Archives: Business Analytics
Decision Management: What It Is and Why You Need It
Today Roy Schulte from Gartner ran the webinar “Decision Management: What It Is and Why You Need It” describing the state of the art in decision management and offering guidance on how to get started. Here are a few slides:
Is Your Insurance Business Missing a Critical Decision Window When it Comes to AI?
Yesterday Craig Bedell from IBM’s Global Insurance Industry Leadership Team wrote: “I believe most insurance companies have hit a critical point in time with regards to their investments in analytics, innovation and even AI, where business leaders are measuring more … Continue reading
Finding Optimal Locations of New Store using Decision Optimization
Vincent Beraudier, IBM, in his notebook describes how to model and solve the following business problem: “A fictional Coffee Company plans to open N shops in the near future and needs to determine where they should be located knowing that … Continue reading
Posted in Business Analytics, Optimization
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Statistical Methods with Domain-based Models
This WSJ article gives examples when ML-based solutions have been enhanced by the inclusion of pre-defined domain-specific models. “Machine learning is a statistical modeling technique, which finds and correlates patterns between inputs and outputs without necessarily capturing their cause-and-effect relationships. … Continue reading
Decision Optimization for Dynamic Pricing
FICO posted an interesting article “Fair Pricing with Price Optimisation”. A similar system “Using Machine Learning, Business Rules, and Optimization for Flash Sale Pricing” has been developed by OpenRules. These examples demonstrate the power and flexibility of Decision Optimization when business rules, … Continue reading
Small Companies Adopt Business Intelligence and Analytics Twice Faster than Large Organizations
This article discusses “What will the future of business analytics look like?” It states: the future of business analytics is small business! 1 out of 3 small business leaders believe business intelligence (BI) and analytics will have a significant impact on their small … Continue reading
Posted in Business Analytics, Trends
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Amazon automates buying and stocking decisions
Machines are beating people at the critical inventory decisions that separate the winners and losers in retail. For the staffers deciding how many books, games or plastic pool toys to peddle, the tradeoff can be stark: Order too little and … Continue reading
Posted in Business Analytics, Decision Modeling
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