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Data Smart Chapter 4, Optimization

 We will be studying chapter  4 of the fantastic book 'Data Smart', which covers the fundamentals of data science.

 This chapter is on optimization. What is the right mix of related factors X and Y, to achieve the maximization of Z? Should the budgets for advertising and customer service be %50-%50 of available funds to achieve the most profit, or something else? Should more money be spent on diagnostic machines or nurse time to achieve maximum health outcomes?

 The ability to answer those types of questions is clearly very valuable to business, research and health organizations. Whether your a student, programmer, analyst or statistician, you have much of value to both contribute and find in this meetup.

Here is this weeks spreadsheet:

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  • Steve B.

    We had a great meeting this morning. We spent this session going over how to setup the Orange Juice Blending model. Then we used Solver and setup the Objectives, Decisions, and Constraints. Through the process we learned a great deal about how to setup an optimization analysis.

    February 22, 2014

  • Tadas B.

    That was a great meetup last week. I'll make all efforts to make it tomorrow. Cheers!

    February 21, 2014

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