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Using prescriptive analytics techniques, decision-makers can identify their best choices, optimize their approaches for handling new opportunities and risks, and update their decision options continually as new data arrives. Of all the forms of business analytics available, prescriptive analytics is most directly linked to successful decision-making. In Prescriptive Analytics: The Final Frontier for Evidence-Based Management and Optimal Decision Making, Dr. Dursun Delen illuminates the state-of-the-art in prescriptive analytics for both business professionals and students. Delen’s end-to-end, all-inclusive, holistic approach covers optimization, simulation, multi-criteria decision-making methods, inference- and heuristic-based decisioning techniques, and more. Throughout, he promotes understanding by presenting numerous conceptual illustrations, example problems and solutions, and motivational case and success stories. Coverage includes:
- An overview and taxonomy of business analytics, and where prescriptive analytics fits into the big picture
- How humans make decisions and how prescriptive analytics can support them
- How to use mathematical modeling to find the optimal solution for achieving business objectives within real-world constraints
- How Monte-Carlo, discrete, and continuous simulations can help you analyze complex systems for better decision-making
- Powerful multi-criteria decision making techniques and examples
- Expert systems, case-based reasoning, and their renewed impact on modern decision systems
- Advanced prescriptive analytics techniques that leverage big data, deep learning, and cognitive computing