Optimization takes business problems and translates them into math problems for a high-speed computer to process and solve. However, the vast majority of business decision-makers are not computer adepts nor particularly comfortable with math. In the short term, companies should retain outside experts to help bridge the gap between “quants” and “non-quants” in order to apply the phenomenal power of these new technologies to the complex, detailed business problems that require deep subject matter expertise.
In the long term, organizations will need to recruit, train and reward professionals who can bring both sides of the brain into every business situation. Finding opportunities for optimization will be every manager’s job, not the exclusive turf of specialists and consulting firms.Optimization is the improvement in business decision-making by leveraging a special kind of software that gives you more of what you want to achieve. Using rules and criteria that you establish, the software tirelessly evaluates millions or billions of potential choices—and then makes explicit recommendations for action.