Machine Learning for Scenario Planning
Scenario Planning is about predicting future outcomes by running models that create notional events that might happen in the future. It’s used in many industries -- including defense, healthcare, pharmaceuticals, retail, manufacturing, and utilities -- to understand capacity issues, expose future resourcing bottlenecks, plan the pre-emptive servicing of assets, and better understand how consumer purchasing behaviors are impacted by events, product placement strategies, and product range choices.
We like to think that humans are better at strategy than humans, although when Deep Blue® -- an IBM computer -- beat the world chess champion after a six-game match back in 1997, it made it pretty obvious that might not be the case, or at least, not for much longer!
Machine Learning technologies equip organizations with the resources needed to affordably conduct scenario planning to a more comprehensive level than can be economically achieved by humans: Not that humans could not perform such tasks themselves, but probably not within practical economic limits.