The Optimization Edge

A Blog for Business Executives and Advanced Analytics Practitioners

Technologies: Data Science, Big Data, Optimization, Machine Learning, Artificial Intelligence, Predictive Analytics, Forecasting

Applications: Operations, Supply Chain, Finance, Health Care, Workforce, Sales and Marketing
March 3, 2017

If you are an executive exploring whether or not optimization will help your company raise its level of competitive play, I don’t advise running out to sign up for a crash course in advanced mathematics. There’s no need for you to become a quant, but it would help to think a bit like one. Begin by asking a few optimization questions, such as:

  1. What are my company’s underutilized assets? For example, for a newspaper, it might be ad space; for a pharmaceutical company it might be the “face time” that sales reps spend with doctors; for an agricultural company, arable land or available seeds might be the undervalued asset; for a railroad, train capacity might qualify. Which of your assets, if tapped for optimal value, have the potential to take your organization to a significant new level?