Optimizatiion_problem

Optimization method has a wide application in the industry in many diverse fields such as machine learning, finance, aviation & logistics etc. to name a few. Once we zeroed down on the problem statement, the next step is to solve the problem with the best available options.

To simplify, the idea is to find the best available solution which is at least as good and any other possible solution. If we want to quantify and express the problem in mathematics, we need to come with an objective of solving the problem which is the objective function in mathematics. This will be followed by condition or conditions of the problem which are constraints.