Analytics Scripting System for Prescriptive Decision Making
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Solution Overview
Problem
Complexity of conventional analytics systems limits usability by business managers due to intricate algorithms and data preprocessing, making them costly and less frequently used, despite their potential for predictive analytics and business performance improvement.
Innovation Solution
A method and system that utilize a configuration script to derive models associating influencers with performance indicators, project future values, and prescribe actionable steps, enabling users to configure analytics systems for prescriptive analytics, prediction, and decision-making through a modular approach involving preprocessing, modeling, prediction, and prescription modules.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If conventional analytics systems use complex algorithms and data preprocessing techniques, then prediction accuracy and business performance improvement are enhanced, but system complexity increases and usability by business managers deteriorates
Solution Approach 1:
The patent introduces a specialized user interface that acts as an intermediary between complex analytics algorithms and business managers. This interface translates complex model parameters and algorithmic concepts into business-friendly terminology and visualizations, allowing managers to interact with sophisticated prediction systems without needing to understand the underlying complexity.
Solution Approach 2:
The system creates simplified representations or copies of the complex analytics models that are tailored for business user consumption. These copies present the same predictive capabilities but in a simplified format that business managers can understand and manipulate without needing expertise in the underlying complex algorithms.
2Productivity
If conventional analytics systems implement intricate preprocessing and modeling algorithms, then analytical capability is improved, but expense associated with expert labor increases
Solution Approach 1:
The system enables business managers to perform analytics tasks themselves through the simplified user interface, eliminating the need for expensive expert labor. The interface is designed to guide managers through model configuration and interpretation without requiring specialized knowledge, allowing them to self-serve complex analytical functions that previously required expert intervention.
Solution Approach 2:
The analytics system is designed to be universally accessible to business managers across different roles and expertise levels. The single interface serves multiple functions including model configuration, parameter adjustment, result interpretation, and decision support, replacing the need for multiple specialized expert roles.
3Adaptability or versatility
If conventional analytics systems use multiple interpreters and algorithms for unstructured data, then data processing capability is improved, but device complexity increases
Solution Approach 1:
The patent merges multiple interpreters and algorithms into a unified, simplified interface that presents a single view to business managers. While the backend may utilize multiple sophisticated algorithms for processing different types of unstructured data, the user interface combines these into a cohesive experience that hides the underlying complexity while maintaining versatile data processing capabilities.
Data Source
AI summary
A method of determining a set of prescribed actions includes receiving a configuration script identifying a set of influencers, a set of performance indicators, a model type, a target time, and a prescription method. The method further includes deriving a model of the model type based on data associated with the set of influencers or with the set of performance indicators. The method also includes projecting a set of future influencer values associated with the set of influencers and projecting a set of future indicator values of the set of performance indicators at the target time using the model. The method can further include prescribing using the prescription method and based on projecting using the model a set of prescribed actions associated with the subset of actionable influencers. The method also includes displaying the set of prescribed actions.