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What is Constrained Optimization

Chapter 66
Encyclopedia of Business Analytics and Optimization
A class of optimization problems in which the value of decision variables is subject to a set of system constraints.
Published in Chapter:
Defining a Business-Driven Optimization Problem
Shokoufeh Mirzaei (California State Polytechnic University, USA)
Copyright: © 2014 |Pages: 8
DOI: 10.4018/978-1-4666-5202-6.ch066
Abstract
The purpose of this chapter is to provide fundamental information about business analytics and optimization for users ranging from college students to consultants and managers for a successful practice of data analytics. Therefore, this chapter does not contain any mathematical programming. Instead, it is a proof that defining an optimization problem is neither a privilege nor a talent issue, but the ability of simply putting puzzle pieces together using directives. This chapter is written based on the challenges that the author has experienced as a business analytics consultant and a researcher in the field.
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