Optimization Society : Presentation on Sequential Decision Analytics - by Prof. Warren Powell

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Sequential decision analytics is an umbrella for a vast range of problems that consist of the sequence:

decision, information, decision, information, decision, information, …

Our standard model will extend over a finite horizon, but other settings might have just one decision (decision, information, stop), two decisions (decision, information, decision, stop), a random number (we stop when a condition is met) or an infinite number. There is also a class of problems that starts with new information before the first decision, where the initial information is sometimes referred to as a “context.”

Decisions can cover the management of physical resources (managing inventories, routing trucks, scheduling nurses, storing energy, …), financial decisions (pricing, contracts, trading), and collecting or sharing information (running medical tests, laboratory experiments, marketing, field testing, advertising).

link to material: https://castlelab.princeton.edu/sda/

link to You Tube Video: https://www.youtube.com/watch?v=8eOaTEq3_AA