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Companies today are more eager than ever to find innovative and new ways to maximise profitability and return on investment (ROI), while at the same time satisfy their business constraints and customer preferences. In particular, when they have multiple offers or products targeted towards a large customer or prospect base, realising this goal becomes an effort at solving a complicated and difficult resource allocation problem.
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Traditional decisioning practices are not successful in addressing such constrained resource allocation problems since attempts at solving them in the real world necessitate transcending significant mathematical and technological barriers, particularly when you consider the scale of most Business to Consumer (B2C) organisations. Instead, traditional approaches typically rely on a combination of heuristics (such as business rules), data analysis and modelling to allow decision makers to solve the resource allocation problem, although sub-optimally.
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