At the core of our approach we find a mathematical model.
The mathematical model translates your actual business situation (including processes, resources, people…) into a set of equations using mathematical concepts and language.
The aim of such model is to provide an objective and quantified answer through the use of optimization and/or simulation techniques.
In order to faithfully reproduce all dimensions of a given business issue, a typical optimization model includes:
Once all the above components are defined, the model is ready to be optimized.
What does “optimization” mean?
The word “optimization” is widely used nowadays as synonym for “improving things” or fine-tuning. However, the mathematical definition of optimization goes much further: It refers to the systematic selection of the best practical solution (with respect to the objective function) from among a set of feasible solutions defined by the constraints of the model.
At N-SIDE, we only focus on this kind of optimum, as we aim to help our client reach the top percent of their efficiency.
How do we compute the optimal value of a model?
There is a vast scientific literature describing numerous algorithms capable of finding optimal solutions for a large sample of problems. The corpus of these techniques is an established scientific discipline called Mathematical Programming and, more broadly, Operations Research.
Therefore, at this stage of the project, the expertise of N-SIDE not only consists in building a model that faithfully reproduces the challenges facing our client but also in finding one or more technique to overcome them quickly and properly.