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Organizations must constantly adapt to rapidly changing business
requirements and increasing cost pressure. They need to optimize
their business processes to allocate scarce resources more efficiently.
In today's businesses, many processes are complex, accurate data
for optimization efforts is sometimes lacking, and potential investments
can be highly risky. The Business Optimization group applies cutting-edge
models, algorithms, software and expertise to solve complex optimization
problems.
In an era of continuous technological advancements, the available
tools in solving business problems and handling huge amounts of
data are constantly increasing. Problems considered impossible only
a few years ago are now easily solved on a laptop computer. Even
though the fundamentals of mathematics and statistics do not change,
the advancement of research in the field and the availability of
sophisticated computer software have changed the way we approach
problems.
Our expertise in advanced analytics can be categorized in the general
field of data analytics (statistics, data mining, machine
learning), mathematical optimization (mathematical, stochastic
and dynamic programming, search heuristics) and discrete-event
simulation. Being at the interface of mathematics, business
and engineering, we are able to use state-of-the-art research tools
from all three areas.
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