Tag Archives: Optimization

Convex optimization explained: Concepts & Examples

convex optimization explained with examples

Prescriptive analytics plays a significant role in helping organizations make informed decisions by recommending the best course of action given a specific situation. Unlike descriptive and predictive analytics, which focus on understanding past data and predicting future outcomes, prescriptive analytics aims to optimize decision-making processes. Optimization solutions are a key component of prescriptive analytics, enabling decision-makers to find the most efficient and effective strategies to achieve their goals.  Convex Optimization is a special class of optimization problems that deals with minimizing (or maximizing) convex functions over convex sets. Convex functions and sets exhibit specific mathematical properties that make them particularly well-suited for optimization. In the context of prescriptive analytics, convex …

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Local & Global Minima Explained with Examples

Optimization problems containing many local minima remains a critical problem in a variety of domains, including operations research, informatics, and material design. Efficient global optimization remains a problem of general research interest, with applications to a range of fields including operations design, network analysis, and bioinformatics. Within the fields of chemical physics and material design, efficient global optimization is particularly important for finding low potential energy configurations of isolated groups of atoms (clusters) and periodic systems (crystals). In case of Machine learning (ML) algorithms, theer is a need for optimising (minimising) the cost or loss function. In order to become very good at finding solutions to optimisation problems (relating to minimising …

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