Category Archives: Decision Optimization

Decision Optimization Technologies

Solvers are like cars: focus on driving in the right direction, before you worry about speed

This is a quote from Geoffrey De Smet’s post, “What stops Operations Research from being widely adopted?” His answers:

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Prof Warren Powell: What is a decision?

Prof. W. Powell announced his newest webpage, “What is a decision?” covering these headings: 1)    What is a decision?2)    What types of decisions are there?3)    What does a decision do?4)    We make decisions to solve a problem, but what do we mean by a … Continue reading

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Multiple valid solutions to a business problem

John Brandon Elam wrote today: “You can actually tell the solver to generate multiple valid solutions to a problem, not just the single ‘best’ one. For me, as a Product Owner, that’s huge. Why? Because business stakeholders don’t live and … Continue reading

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Meta-Decision Support

Adam DeJans Jr.: “What if we treated the design of metrics, thresholds, and goals as decisions that need feedback loops and learning just like any other policy? That’s where I think the future lies. Meta-decision support: helping leaders choose what … Continue reading

Posted in Decision Modeling, Decision Monitoring, Decision Optimization, Supply Chain, Uncertainty | Leave a comment

Explaining Solutions of Combinatorial Optimization

DecisionBrain is actively investigating the topic of explaining Combinatorial Optimization results. Drawing from principles in both Social Sciences and Artificial Intelligence, they highlighted two key types of explanations, contrastive and counterfactual explanations, and discussed their relevance in decision-support systems. Link

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Decision-making under uncertainty

Meinolf Sellman: “The key to efficiency and smooth, low-cost, and low-surprise operations is to make better decisions. And that has always been the objective of AI. Not the silly chatbot AI that you see being hyped. Not the expensive AI … Continue reading

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Decision Optimization and Generative AI

There are two new articles devoted to this topic: “Optimization and Generative AI” by Alex Fleischer “LLM-ify me – Optimization edition” by Richard Oberdieck

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Nine Solutions for Sep-2024 Challenge “Rental Boats”

This challenge is about a decision model that can help a boat rental company purchase different boats while satisfying seating, manufacturers, and limited budget requirements. We received 9 solutions and 3 of them used LLMs. Link

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Challenge Sep-2024 “Rental Boats”

In this challenge you need to help a boat rental company to purchase different boats while satisfying seating, manufacturers, and limited budget requirements. Your solution should maximize the expected profit. Link

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Decision Model as Approximation for Business Problem

Carlos Armando Zetina: “The model is an approximation for a business’s decision problem because it inevitably needs to make simplifying assumptions such as limited scope, finite horizons, deterministic parameters, and cost approximations to be amenable to solving. Since the optimality … Continue reading

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