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Sunday, February 08, 2015

Tradeoff Analytics Services

Have been examining some of the Watson services announced last week.    These are available free (with limited amounts of data) with registration on the Bluemix cloud services.  One that intrigued me was tradeoff analytics.  Implementing Pareto optimization.  Have not seen that technique embedded anywhere recently, a nice idea. These can be connected via API to a mobile App,  for example.  At the link, documentation  and a demonstration video.  All the services are published as Beta.  Will try with some sample health domain data. Provide your thoughts.

" ... Helps users make better choices to best meet multiple conflicting goals, combining smart visualization and recommendations for tradeoff exploration ... 
The Tradeoff Analytics service helps people optimize their decisions while striking a balance between multiple, often conflicting, objectives. The service can be used to help make complex decisions like what mortgage to take or which laptop to purchase. Tradeoff Analytics uses Pareto filtering techniques to identify the optimal alternatives across multiple criteria. It then uses various analytical and visual approaches to help the decision maker explore the pros and cons of their alternatives. ... " 

(Update):  It was brought to my attention that Pareto optimization and its uses are not well known. The WP has a good article that starts non technically. And more broadly on Pareto Analysis.

(Update): And on Smart Pareto filters.

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