Advanced Machine Learning with R

Multi-arm bandit – real-world use cases

We encounter so many situations in the real world that are similar to that of the MABP we reviewed in this chapter. We could apply RL strategies to all these situations. The following are some of the real-world use cases similar to that of the MABP:

• Finding the best medicine/s among many alternatives
• Identifying the best product to launch among possible products
• Deciding the amount of traffic (users) that we need to allocate for each website
• Identifying the best marketing strategy for launching a product
• Identifying the best stocks portfolio to maximize profit
• Finding out the best stock to invest in
• Figuring out the shortest path in a given map
• Click-through rate prediction for ads and articles
• Predicting ...