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How can you use reporting techniques to show the impact of optimization models on business performance?

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Optimization models are powerful tools for improving business performance by finding the best solutions to complex problems. However, to communicate the value and impact of these models to stakeholders, you need to use effective reporting techniques that can translate the mathematical results into meaningful insights. In this article, you will learn how to use reporting techniques to show the impact of optimization models on business performance, such as:

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1 Choosing the right metrics

The first step to report the impact of optimization models is to choose the right metrics that can measure the performance improvement and the trade-offs involved. Depending on the type of optimization problem, you may use metrics such as cost reduction, revenue increase, customer satisfaction, resource utilization, or environmental impact. You should also consider the baseline scenario, the target scenario, and the gap between them to show the potential and actual benefits of the optimization model.

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Kamran Shikhaliyev

PSPO? II, PSU? I | Senior Customer Journey Expert, Retail Card Business Tribe (Card Core Solutions Squad)
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Selecting key performance indicators (KPIs) aligned with business goals allows you to quantify improvements resulting from optimization models. Presenting data visually through charts or dashboards helps stakeholders grasp the impact more effectively. Additionally, comparing performance before and after optimization provides a clear narrative of the models' influence on business outcomes.

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2 Visualizing the results

The second step to report the impact of optimization models is to use visualization techniques that can make the results easy to understand and compare. You can use different types of charts, graphs, maps, or dashboards to display the key metrics, the optimal solutions, the sensitivity analysis, or the scenario analysis. You should also use colors, labels, legends, and annotations to highlight the main findings and recommendations. You should avoid using too many or too complex visualizations that can confuse or overwhelm the audience.

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3 Explaining the assumptions

The third step to report the impact of optimization models is to explain the assumptions and limitations that underlie the model and the results. You should be transparent and honest about the data sources, the quality, the validity, and the uncertainty of the data. You should also explain the model structure, the objective function, the constraints, and the parameters that define the optimization problem. You should also acknowledge the possible errors, biases, or gaps in the model and the results, and how they can affect the decision making.

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4 Demonstrating the value

The fourth step to report the impact of optimization models is to demonstrate the value and relevance of the model and the results for the business goals and challenges. You should link the optimization model to the strategic objectives, the operational issues, or the customer needs that motivated the problem. You should also show how the optimization model can help to achieve better outcomes, to save costs, to increase revenues, to enhance quality, or to reduce risks. You should also provide concrete examples, testimonials, or case studies that can illustrate the success and impact of the optimization model.

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Kamran Shikhaliyev

PSPO? II, PSU? I | Senior Customer Journey Expert, Retail Card Business Tribe (Card Core Solutions Squad)
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To demonstrate the value of optimization models, highlight specific instances where the models led to cost savings, efficiency gains, or revenue growth. Use real-world examples and quantify the impact with tangible metrics. Create compelling case studies or success stories that showcase how the models directly contributed to achieving business objectives. This approach makes the value of optimization models more tangible and convincing for stakeholders.

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5 Engaging the audience

The fifth step to report the impact of optimization models is to engage the audience and solicit their feedback and input. You should tailor your report to the specific needs, interests, and expectations of your audience, whether they are managers, clients, or colleagues. You should also use clear and simple language, avoid jargon and technical terms, and use stories and analogies to make your report more relatable and memorable. You should also invite questions, comments, or suggestions from your audience, and address them with respect and confidence.

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Kamran Shikhaliyev

PSPO? II, PSU? I | Senior Customer Journey Expert, Retail Card Business Tribe (Card Core Solutions Squad)
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Craft reports that cater to your audience's understanding and priorities. Use accessible language, visuals, and storytelling to explain how optimization models positively influence key aspects of the business. Encourage interaction by including Q&A sessions or discussions to address concerns and gather feedback. Engaging your audience fosters a better comprehension of the impact and increases buy-in from stakeholders.

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6 Updating the report

The sixth and final step to report the impact of optimization models is to update the report regularly and consistently. You should monitor and track the performance and impact of the optimization model over time, and report any changes, improvements, or challenges that may occur. You should also review and revise the model and the results as new data, information, or feedback becomes available. You should also communicate the updates and the revisions to your audience, and explain the reasons and the implications of them.

By following these six steps, you can use reporting techniques to show the impact of optimization models on business performance, and to convince and persuade your stakeholders of the value and benefits of these models.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you use reporting techniques to show the impact of optimization models on business performance?

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2

3

4

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1 Choosing the right metrics

2 Visualizing the results

3 Explaining the assumptions

4 Demonstrating the value

5 Engaging the audience

6 Updating the report

7 Here’s what else to consider

Operations Research

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How can you use reporting techniques to show the impact of optimization models on business performance?

1

2

3

4

5

6

7

1 Choosing the right metrics

2 Visualizing the results

3 Explaining the assumptions

4 Demonstrating the value

5 Engaging the audience

6 Updating the report

7 Here’s what else to consider

Operations Research

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