Intelligent Decision Making Using Particle Swarm Optimization for Optimizing Product-Mix Model

The development and deployment of managerial decision support system represents an emerging trend in the business and organizational field in which the increased application of Decision Support Systems (DSS) can be compiling by Intelligent Systems (IS). Decision Support Systems (DSS) are a specific class of computerized information system that supports business and organizational decision-making activities. A properly designed DSS is an interactive software-based system intended to help decision makers compile useful information from raw data, documents, personal knowledge, and/or business models to identify and solve problems and make decisions. Competitive business pressures and a desire to leverage existing information technology investments have led many firms to explore the benefits of intelligent data management solutions such as Particle Swarm Optimization (PSO). This study proposes a new PSO (SPSO)-model based on product mix model for optimizing Constraint values as well as objective function. The formulations of the objective function for the minimization problem. This technology is designed to help businesses to finding multi objective functions, which can help to understand the purchasing behavior of their key customers, detect likely credit card or insurance claim fraud, predict probable changes in financial markets, etc.