Integrating predictive and prescriptive approaches in stochastic optimisation
Projects
Methods research · Energy planning
Integrating predictive and prescriptive approaches in stochastic optimisation
Models that merge forecasting and decision-making in a single step, to measure directly how forecast quality affects the decision taken.
Objective
PurposeStandard data-science practice first builds a forecasting model for uncertain elements (for example, demand) and then feeds it into an optimisation model that picks the best course of action. The project builds prescriptive models that integrate both steps and applies them to energy planning, a data-rich field with a long tradition of optimisation under uncertainty.
Facts
DataInstitutionUniversidad Adolfo Ibáñez · CENTRA
AreasData science · Stochastic optimisation · Energy planning
Team
UAI · CENTRA
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