As it is standard practise for mathematicians to prepare a list of definitions for frequently used terms we have created a glossary of terms used in Optimisation.
Mathematical Optimisation is a way to improve the profitability, efficiency and sustainability of your business. In mathematical optimisation, mathematical techniques are used to calculate the most effective way to use the resources and capabilities of your business.
Optimisation with an s is predominately used by British English speakers, while optimization with a z is predominately used by American English speakers. In Australia, we use British English spelling, although both spellings are considered correct.
Neural Networks are a class of algorithms designed to imitate the behaviour of biological neural networks, as in pattern recognition, language processing, and problem solving, with the goal of finding reasonable and approximate solutions to problems.
Genetic Algorithms are routinely used to find good solutions for problems that do not have a well understood mathematical model. Some typical problems on which genetic algorithms have been used are machine learning and modelling language acquisition and evolution.
