Integrated business decision-making system and method

An integrated business decision-making system is provided. The system comprises a data processing component, a prediction component and an optimization component. The data processing component is configured to process observational data related to one or more members of a target population. The pred...

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Bibliographic Details
Main Authors Bal, Debasis, Marasanapalle, Jayanth Kalle
Format Patent
LanguageEnglish
Published 28.08.2012
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Summary:An integrated business decision-making system is provided. The system comprises a data processing component, a prediction component and an optimization component. The data processing component is configured to process observational data related to one or more members of a target population. The prediction component is configured to predict a business measure based on one or more selected combinations of marketing actions and the observational data related to one or more of the members of the target population. The optimization component is configured to determine an optimal marketing action based on one or more of the selected combinations of marketing actions and the predicted business measure associated with each of the marketing actions. The optimization component is further configured to determine an optimal predicted business measure for the members of the target population, based on the optimal marketing action.