Prescriptive Analytics The Final Frontier for Evidence-Based Management and Optimal Decision Making

by Delen, Dursun

• ISBN13: 9780134387055
• ISBN10: 0134387058
• Edition: 1st
• Format: Paperback
• Copyright: 2019-10-24
• Publisher: PEARSON

Summary

Make Better Decisions, Leverage New Opportunities, and Automate Decisioning at Scale

Prescriptive analytics is more directly linked to successful decision-making than any other form of business analytics. It can help you systematically sort through your choices to optimize decisions, respond to new opportunities and risks with precision, and continually reflect new information into your decisioning process.

In Prescriptive Analytics, analytics expert Dr. Dursun Delen illuminates the field’s state-of-the-art methods, offering holistic insight for both professionals and students. Delen’s end-to-end, all-inclusive approach covers optimization, simulation, multi-criteria decision-making methods, inference- and heuristic-based decisioning, and more. Balancing theory and practice, he presents intuitive conceptual illustrations, realistic example problems, and real-world case studies–all designed to deliver knowledge you can use.

• Discover where prescriptive analytics fits and how it improves decision-making
• Identify optimal solutions for achieving an objective within real-world constraints
• Analyze complex systems via Monte-Carlo, discrete, and continuous simulations
• Apply powerful multi-criteria decision-making and mature expert systems and case-based reasoning
• Preview emerging techniques based on deep learning and cognitive computing

Author Biography

Dr. Dursun Delen (Tulsa, OK) is Regents Professor and Patterson Foundation Chair at the Department of Management Science and Information Systems in the Spears School of Business at Oklahoma State University. As research scientist at Knowledge Based Systems Inc., he led numerous advanced analytics, decision support and information systems research projects funded by DoD, NASA, NIST and DOE. His research has appeared in Decision Support Systems, Communications of the ACM, and many other leading journals. His many recent books include Real World Data Mining: Applied Business Analytics and Decision Making and Advanced Data Mining Techniques. Delen co-chaired the 4th International Conference on Network Computing and Advanced Information Management, and is editor or co-editor of AI in Business and The Journal of Business Analytics.

Table of Contents

1. An Overview of Decision Making and Analytics

2. Optimization

3. Simulation

4. Multi-criteria Decision Making

5. Rule-based Expert Systems and Case-based Reasoning

6. Future Trends in Analytics