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Decision optimization is the activity of making the absolute
best decision out of a multitude of possible alternatives
by means of using rigorous mathematical techniques. It is
all about getting the most out of a particular situation.
This is especially important given today's business challenges.
Optimization provides an opportunity for businesses to turn
challenges into a competitive advantage. Optimizing resources
and processes enables businesses to make better decisions
about limited resources like equipment, capital, people, materials,
and facilities.
Optimization tools and techniques have advanced to a state where businesses can quickly analyze thousands, even millions of tradeoffs between key decision outcomes to arrive at an optimal solution. These tools are based on rigorous mathematical techniques that account for the various factors that influence business decisions: decision variables, constraints and objectives. Thousands of companies worldwide are using optimization to enhance decision-making in areas ranging from strategic supply chain planning to detailed operations scheduling.
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