Introduction to optimisation

The key competitive advantage of the PrimeSolve engine is the optimisation methodology that underpins strategy and product recommendations.

This methodology creates unprecedented, powerful financial advice recommendations that are:

• Fast – comprehensive recommendations in seconds
• Robust – performs millions of simulations using multiple advice-related variables and constraints to find the best solution for a given set of financial objectives
• Accurate – based on Australian laws and regulations, clear logic and mathematical concepts
• Clear – able to be understood in terms of which recommendation relates to achieving which objective, and why

What is ‘optimisation’?
Essentially, optimisation can be defined as maximising or minimising a function (or goal), relative to some set, often representing a range of choices available in a certain situation. The function allows comparison of the difference choices for determining which combination of options is expected to provide the best outcome.

How PrimeSolve’s optimiser works:
The model is a carefully defined set of inputs, resources, costs, assumptions, constraints, preferences and objectives/goals – expressed in matrices and logic statements that find the best solution to a financial advice problem.

The output is an optimised set of financial recommendations that encompasses the best possible solution and why, its binding constraints, and the alternative simulations discarded and why.