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Prescriptive Analytics: Unleash the Optimization Tool

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Ever wonder what activities you could do in London with a time constraint? How about how to maximize the value of your fantasy football team on a budget? Join this session to learn how prescriptive analytics and the Optimization Tool can help you find the best solution to your most pressing questions.

Philip Mannering, Analyst - ClarusONE Sourcing

Published in: Data & Analytics
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Prescriptive Analytics: Unleash the Optimization Tool

  1. 1. # A L T E R Y X 1 9 PRESENTED BY PRESCRIPTIVE ANALYTICS: UNLEASH THE OPTIMIZATION TOOL Philip Mannering https://www.linkedin.com/in/philip-mannering-85262642/
  2. 2. # A L T E R Y X 1 9 2 With Alteryx, I can advance my understanding of data analytics and data science - be it descriptive, predictive, or prescriptive. PHILIP MANNERING When I use Alteryx, I feel like I’ve just taken a huge shortcut to get to my destination. A L T E R Y X U S E R S I N C E 2 0 1 7 A L T E R Y X E X P E R T C E R T I F I E D G R A N D P R I X W I N N E R 2 0 1 9
  3. 3. # A L T E R Y X 1 9 3 TODAY’S AGENDA 1. Types of Analytics Descriptive, Predictive, and Prescriptive – what do they mean? 2. Linear Programming and the Optimization Tool What is “linear programming” and how does it work? 3. Examples 0 and 1 – Getting Started How do I set up the optimization tool for my data? 4. Example 2 – Optimize my Fantasy League Team How can I beat my friends with my Fantasy League Team? 5. Example 3 – Optimize my Time How do I make the most of my time in London? 6. Example 4 – Optimize my Diet How can I get all the protein without any of the calories?
  4. 4. # A L T E R Y X 1 9 4 What do they all mean? DESCRIPTIVE, PREDICTIVE, AND PRESCRIPTIVE TYPES OF ANALYTICS
  5. 5. # A L T E R Y X 1 9 TYPES OF ANALYTICS 5 Descriptive What happened? Why did it happen?
  6. 6. # A L T E R Y X 1 9 TYPES OF ANALYTICS 6 Descriptive Predictive What will happen?
  7. 7. # A L T E R Y X 1 9 TYPES OF ANALYTICS 7 Descriptive Predictive Prescriptive What to do?
  8. 8. # A L T E R Y X 1 9 TYPES OF ANALYTICS 8 Descriptive Predictive Prescriptive Hindsight Insight Foresight Action
  9. 9. # A L T E R Y X 1 9 9 What does it all mean? OBJECTIVE FUNCTIONS AND LINEAR CONSTRAINTS LINEAR PROGRAMMING
  10. 10. # A L T E R Y X 1 9 LINEAR PROGRAMMING 10
  11. 11. # A L T E R Y X 1 9 LINEAR PROGRAMMING 11
  12. 12. # A L T E R Y X 1 9 LINEAR PROGRAMMING 12 Max 𝒄 𝑇 𝒙 + 1 2 𝒙 𝑇 𝑸𝒙 Subject to: 𝑨𝒙 ≤ 𝑩 𝒙 ≥ 0 Objective Function Constraints Max 𝒄 𝑇 𝒙 coefficient variable dir rhs Constraint coefficients
  13. 13. # A L T E R Y X 1 9 LINEAR PROGRAMMING 13 Objective Function Constraints Solution
  14. 14. # A L T E R Y X 1 9 14 We start with a trivial example to show how we formulate the problem and start using the Optimization tool SOLVING FOR ONE DECISION VARIABLE EXAMPLE ZERO
  15. 15. # A L T E R Y X 1 9 EXAMPLE 0 15 Sugar Milk Cocoa Ingredients 20g 80g 50g Upper Limit 2500g 3100g 1600g Question: How many Hershey Bars, 𝒙 should I make to maximize profit if each bar costs £0.9 and I’m constrained by amount of ingredients? Objective Function Maximize £0.9x Constraints 20𝑥 ≤ 2500 80𝑥 ≤ 3100 50𝑥 ≤ 1600 NumberofHershey’sbars,𝒙→
  16. 16. # A L T E R Y X 1 9 EXAMPLE 0 16 Objective Function Constraints Solution
  17. 17. # A L T E R Y X 1 9 17 Let’s up the stakes and see how the workflow is set up for two variables. We introduce tool configuration “variables in rows” to support the structure of our input data. SOLVING FOR TWO DECISION VARIABLES EXAMPLE ONE
  18. 18. # A L T E R Y X 1 9 Number of Hershey’s bars, 𝒙 → NumberofCookies‘n’Cremebars,𝒚→ EXAMPLE 1 18 Sugar Milk Cocoa Hershey’s 20g 80g 50g Cookies ‘n’ Creme 50g 50g 20g Upper Limit 2500g 3100g 1600g Question: How many bars of Hershey’s, 𝒙 (£0.9) and Hershey’s Cookies and Crème, 𝒚 (£1.0) should I make to maximize profit? Objective Function Maximize: £0.9𝑥 + £1.0𝑦 Constraints 20𝑥 + 50𝑦 ≤ 2500 80𝑥 + 50𝑦 ≤ 3100 50𝑥 + 20𝑦 ≤ 1600
  19. 19. # A L T E R Y X 1 9 EXAMPLE 1 Objective Function Constraints Solution 19 EXAMPLE 0 Objective Function Constraints Solution Subject to: 𝑨𝒙 ≤ 𝑩
  20. 20. # A L T E R Y X 1 9 20 EXAMPLE 1 C O N S T R A I N T S I N R O W S Objective Function Constraints Solution EXAMPLE 1 V A R I A B L E S I N R O W S Objective Function Constraints Solution Solution Objective Function Constraints EXAMPLE 1 C O N S T R A I N T S I N R O W S Subject to: 𝑨𝒙 ≤ 𝑩
  21. 21. # A L T E R Y X 1 9 21 Objective: maximize points for this season Constraints: the rules of the game • Cost ≤ 100, 15 players, 2 GK, 5 DF, 5MF, 5FW, ≤ 3 Players from any one Team MAXIMIZING FOR POINTS EXAMPLE TWO OPTIMIZE A FANTASY LEAGUE TEAM
  22. 22. # A L T E R Y X 1 9 22 I gave a friend a list of things to do in London and he rated them from 1 (not bothered) to 10 (an absolute must) But he has only the weekend and £100 spending money. What should he do? MAXIMIZING A TRIP TO LONDON EXAMPLE THREE OPTIMIZE A WEEKEND IN LONDON
  23. 23. # A L T E R Y X 1 9 23 I am looking to get hench/stacked/ripped/shredded. How can I maximize the protein in my diet without exceeding 2500 calories per day? MAXIMIZING PROTEIN WHILE KEEPING THE CALORIES LOW EXAMPLE FOUR OPTIMIZE MY DIET
  24. 24. # A L T E R Y X 1 9 24 TO TAKE YOUR ANALYSIS TO THE NEXT LEVEL IN YOUR BUSINESS FIVE KEY POINTS Identify a business problem that requires optimizing Set the Objective Function (the thing you want to optimize) Set the List of Constraints (the things limiting you) Prepare you Inputs (correct structure, column names, data types, etc) Interpret and present your results 1 2 4 5 3
  25. 25. # A L T E R Y X 1 9 THANK YOU 25 PHILIP MANNERING
  26. 26. # A L T E R Y X 1 9 SLIDE BLANK DARK BACKGROUND 26
  27. 27. # A L T E R Y X 1 9 SLIDE BLANK RED BACKGROUND 27
  28. 28. # A L T E R Y X 1 9 28 Section or subheadline descriptor here. SUBHEADLINE SECTION TITLE HERE.
  29. 29. # A L T E R Y X 1 9 ADD HEADLINE HERE SUBTITLE 29 Click to add text
  30. 30. # A L T E R Y X 1 9 HEADLINE WITH THREE COLUMNS SUBHEADLINE 30 SUBHEADLINE Add text here • Bullet text • Bullet text • Bullet text Add text here • Bullet text • Bullet text • Bullet text Add text here • Bullet text • Bullet text • Bullet text SUBHEADLINE
  31. 31. # A L T E R Y X 1 9 THREE COLUMN COMPARISON SUBHEADLINE 31 SUBHEADLINE SUBHEADLINE First line text w/o bullet • Bullet text • Bullet text • Bullet text • Bullet text First line text w/o bullet • Bullet text • Bullet text • Bullet text • Bullet text First line text w/o bullet • Bullet text • Bullet text • Bullet text • Bullet text
  32. 32. # A L T E R Y X 1 9 HEADLINE WITH TWO COLUMNS SUBHEADLINE 32 Click to add text • Bullet text here • Bullet text here • Bullet text here • Bullet text here SUBHEADLINE Click to add text • Bullet text here • Bullet text here • Bullet text here • Bullet text here
  33. 33. # A L T E R Y X 1 9 TWO COLUMN COMPARISON SUBHEADLINE 33 Click to add text • Bullet text here • Bullet text here • Bullet text here • Bullet text here SUBHEADLINE Click to add text • Bullet text here • Bullet text here • Bullet text here • Bullet text here
  34. 34. # A L T E R Y X 1 9 HEADLINE & COPY WITH X IMAGE MASK SUBHEADLINE 34 Click to add text
  35. 35. # A L T E R Y X 1 9 HEADLINE & COPY WITH X IMAGE MASK SUBHEADLINE 35 Click to add text
  36. 36. # A L T E R Y X 1 9 ITEMIZED LIST WITH UP TO NINE STEPS 36 Insert text here Insert text here Insert text here Insert text here Insert text here Insert text here Insert text here Insert text here Insert text here 41 7 52 8 63 9
  37. 37. # A L T E R Y X 1 9 ALTERNATE THREE ITEM LIST OR COMPARISON 37 ITEM TITLE ITEM TITLE Insert item text here ITEM TITLE Insert item text here 1 2 3 Insert item text here
  38. 38. # A L T E R Y X 1 9 38 FOUR ITEM LIST OR COMPARISON SUBHEADLINE SUBHEADLINE SUBHEADLINE SUBHEADLINE • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet
  39. 39. # A L T E R Y X 1 9 39 ALTERNATE FOUR ITEM LIST OR COMPARISON • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet • Click to add bullet SUBHEADLINESUBHEADLINESUBHEADLINESUBHEADLINE
  40. 40. # A L T E R Y X 1 9 25%25% PERCENTAGE BASED COMPARISON 40 CHART TITLE Chart descriptor here. CHART TITLE Chart descriptor here. Formatting note: Position of pie chart data label (i.e. 25%) within chart may need to be adjusted manually – DELETE THIS BOX WHEN SLIDE IS FINALIZED
  41. 41. # A L T E R Y X 1 9 SMALL DATA SET BAR GRAPH SUBHEADLINE 41 100% 80% 50% 90% Category 1 Category 2 Category 3 Category 4 Click to insert text
  42. 42. # A L T E R Y X 1 9 100% 80% 50% 90% Category 1 Category 2 Category 3 Category 4 BAR GRAPH COMPARISON 42 100% 80% 50% 90% Category 1 Category 2 Category 3 Category 4 INSERT CHART TITLE INSERT CHART TITLE
  43. 43. # A L T E R Y X 1 9 43 100% 85% 25% 60% 70% 35% 75% Category 1 Category 2 Category 3 Category 4 Category 5 Category 6 Category 7 LARGER DATA SET BAR GRAPH
  44. 44. # A L T E R Y X 1 9 PIE CHART COMPARISON 44 50% 10% 10% 10% 20% S U B H E A D L I N E Add text here S U B H E A D L I N E Add text here S U B H E A D L I N E Add text here S U B H E A D L I N E Add text here S U B H E A D L I N E Add text here Formatting note: Position of subheadline/text boxes may need to be manually moved when chart data is altered – DELETE THIS BOX WHEN SLIDE IS FINALIZED
  45. 45. # A L T E R Y X 1 9 45 ROI COMPARISION SUBHEADLINE Click to add text $150K SUBHEADLINE Click to add text $100M Formatting note: Dollar sign is superscript and dollar unit is 44pt size - DELETE THIS BOX WHEN SLIDE IS FINALIZED
  46. 46. # A L T E R Y X 1 9 46 CLICK TO EDIT NET ROI COMPARISON SUBHEADLINE Click to add text $50K SUBHEADLINE Click to add text $75M SUBHEADLINE Click to add text $100K Formatting note: Dollar sign is superscript and dollar unit is 44pt size - DELETE THIS BOX WHEN SLIDE IS FINALIZED
  47. 47. # A L T E R Y X 1 9 COMPLETE SESSION SURVEYS ATTENTION 47 We want your feedback! Be sure to complete session surveys within the mobile app after this session. Surveys are anonymous, and we rely on your opinion for improvement

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