Gurobi allows energy and utility companies to respond to the growing demand for services each year. Optimization enables organizations to delicately balance consumer utilization with responsible management of power generation and distribution. Optimization allows companies to turn data into insight by combining economic, social, and environmental considerations into a single mathematical model. Optimization can also be used to help companies mitigate risk and uncertainty in an increasingly competitive market.
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Dive deep into sample models, built with our Python API.
In this example, you’ll learn how to solve an offshore wind power generation problem. The goal of the problem is to figure out which underwater cables should be laid to connect an offshore wind farm power network at a minimum cost. We’ll show you how to formulate a mixed-integer programming (MIP) model of this problem using the Gurobi Python API and then find an optimal solution to the problem using the Gurobi Optimizer. This modeling example is at the beginner level, where we assume that you know Python and that you have some knowledge about building mathematical optimization models.
Learn MoreTry this modeling example to discover how mathematical optimization can help telecommunications firms automate and improve their technician assignment, scheduling, and routing decisions in order to ensure the highest levels of customer satisfaction. This modeling example is at the intermediate level, where we assume that you know Python and are familiar with the Gurobi Python API. In addition, you have some knowledge about building mathematical optimization models. To fully understand the content of this notebook, you should be familiar with object-oriented-programming.
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Prescriptive analytics tools like mathematical optimization help you make decisions based on your real-world business goals (“objectives”) and limitations (“constraints.”) This can be especially useful when you’re facing a business problem with multiple, conflicting goals (such as cutting spending while increasing production) and multiple constraints (such as time, distance, product availability).
Learn more about prescriptive analytics in our article, “What is Prescriptive Analytics?”
Predictive analytics seeks to identify patterns in data to forecast future events, such as predicting cyberattacks or imminent machine failures. Prescriptive analytics, on the other hand, utilizes mathematical modeling to guide decisions based on real-world objectives and constraints, such as minimizing costs or managing raw material inventory.
While predictive analytics tells you what might happen, prescriptive analytics provides actionable recommendations on how to achieve specific goals, given certain limitations.
Learn more about the difference in our article, “Predictive Analytics vs. Prescriptive Analytics.”
In the real world, prescriptive analytics has diverse applications, including transportation providers like Air France and Uber using it to create optimal routing, staffing, and maintenance plans. Professional sports leagues, such as the National Football League, plan their game schedules using prescriptive analytics. Additionally, manufacturers utilize prescriptive analytics to plan and manage the procurement, production, and distribution of their products, aligning decisions with real-world goals and constraints.
Learn more about examples in our article, “Examples of Prescriptive Analytics.”
Yes! By using machine learning predictions as valuable input for mathematical optimization solutions, or conversely, using mathematical optimization to inform machine learning predictions, you can leverage the problem-solving power of mathematical optimization to enhance machine-learning applications.
Learn more in our article, “Improving Machine Learning Applications with Prescriptive Analytics.”
Say you were planning a trip. Predictive analytics can predict what you may encounter along your journey (weather, traffic, engine trouble), and prescriptive analytics can, given those predictions, identify the route that best helps you achieve your goals (fastest, cheapest, safest route), given your constraints (time, budget, speed limits).
Here are some additional examples:
Learn more in our article, “How Can Prescriptive and Predictive Analytics Work Together?”
The primary goal of prescriptive analytics is to provide actionable recommendations to help decision-makers determine the next (and best) course of action. Whereas predictive analytics can help project what will happen next, prescriptive analytics can tell us what we should do based on that information.
Mathematical optimization techniques—including linear programming, integer programming, and nonlinear programming—often play a key in prescriptive analytics. Other techniques include simulation, scenario analysis, heuristics, machine learning and AI, and game theory.
“Prescriptive analytics” is often used interchangeably with mathematical optimization, mixed-integer programming (MIP), and decision intelligence. However, there are some distinctions. Mathematical optimization is actually a key tool used in prescriptive analytics, while decision intelligence is a broader framework that encompasses optimization, prescriptive analytics, and AI.
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