Optimizing Operations Management and Business Analytics Strategies under Uncertainty: Dynamic Programming

Abstract

Dynamic programming is a method used in mathematics, management science, computer science, economics, and bioinformatics to solve complex problems by decomposing the original problem into relatively simple sub-problems. Dynamic programming is often applicable to problems with overlapping subproblems and optimal substructure properties. This paper employs a comprehensive research approach of literature review, as well as empirical analysis and case studies to investigate the topic and demonstrate the practicality and effectiveness of dynamic programming in solving complex decision-making problems. However, the curse of dimensionality poses challenges when dealing with high-dimensional decision spaces, requiring approximate dynamic programming methods, including reinforcement learning algorithms. Therefore, when dealing with more complex dynamic programming problems, it is also essential to use program construction tools such as Python to help design a program that can optimize the problem. Therefore, in the learning of dynamic programming, in addition to the correct understanding of basic concepts and methods, specific problems must be analyzed and dealt with in detail, models should be built with rich imagination, and solutions should be solved with creative skills.