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Business optimization research
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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. Customers need our assistance to optimize
their processes and make quantitative simulations and predictions. Using our skills
in predictive modeling, stochastic optimization, portfolio theory, and simulation,
we provide our customers with highly customized solutions which address their
business needs.
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We use statistical and dynamic programming models to predict customer lifetime
value and risk. We also use Markov chain, Monte Carlo-type simulations to generate
future scenarios of customer behavior. We then use these scenarios to generate
strategies for optimal allocation of marketing budgets.
The customer we are currently working with is Finnair (Finland). Other prospective
projects are being evaluated.
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