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Hands-On Data Science with R
book

Hands-On Data Science with R

by Doug Ortiz, Vitor Bianchi Lanzetta, Nataraj Dasgupta, Ricardo Anjoleto Farias
November 2018
Beginner to intermediate
420 pages
10h 4m
English
Packt Publishing
Content preview from Hands-On Data Science with R

Manufacturing and retail

The manufacturing and retail industry has used data science to designing better products, optimize pricing, and design strategic marketing techniques. Some examples include the following:

  • Price optimization: Generally related to the realm of linear programming, the challenge of price optimization, that is, pricing products, is now also being addressed with the help of machine learning. Dynamic pricing based upon market conditions, user preferences, and other factors are used as inputs to assess optimal pricing of products. (Source: https://www.datasciencecentral.com/profiles/blogs/price-optimisation-using-decision-tree-regression-tree).
  • Retail sales: Retailers use algorithms to determine future sales forecasts, price ...
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Publisher Resources

ISBN: 9781789139402