In this task, you need to write a report describing a decision problem that you
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In this task, you need to write a report describing a decision problem that you believe could be addressed by using a Prescriiptive Analytics Technique to improve the situation. A few guidelines can be-
`Explain how you identified the problem and justify why you think you have identified it correctly.
`Describe the background of the problem and the reason for its selection.
`Describe the limitations and assumptions that may need to be considered.
`You may also discuss the current practice and the existing difficulties.
`You are advised to give the reasons for the chosen Prescriiptive Analytics tool/technique, the advantages & disadvantages, resources required, and the computational time required.
`Analyse the results and provide sensitivity analysis, if any.
Describe your computational difficulties and experiences. You may also mention the things you wanted to do but could not do due to time or other constraints.
`Ensure that the topic and/or associated material is not/cannot be security classified.
You are encouraged to add anything that you find relevant to the assignment. Notably, you need to solve your problem by using only one Prescriiptive Analytic tool/technique (e.g., Linear Programming, Integer Programming, Goal Programming, Transportation and Assignment Problems, Network Optimisations).
A Few Decision Making Problems related to Prescriiptive Analytic Technique
A few decision making problems which can be dealt with by prescriiptive analytic techniques are:
Optimising the production quantity for multiple items under varied company-wide constraints;
finding the optimal amount of purchase quantities for multiple items under capital and capacity constraints;
scheduling or rostering employees in a restaurant;
finding the shortest path to transport a medical emergency product;
determining the optimal path for transporting medical samples;
finding the transportation network for an ambulance connecting multiple hospitals;
conveying perishable items across multiple fresh food markets;
buying a car without any rigid budget;
assigning nurses for medical patience in a local hospital; and
minimising inventory in a typical supply chain setting.
Notably, this list is non-exhaustive and you must select your problem based on your professional experience, real-life contexts, or literature search.
