This is my final article for this year. It’s hard to imagine that it’s almost 2014, and yet I can’t tell you how many times I’ve found myself in the following situation: I meet someone at a tradeshow, they ask me what we do, and I say: “Predictive Analytics for Retailers”, they nod their head
There is no doubt that price is one of the biggest factors affecting gross margin, sales volumes and overall customer service level in any retail organization. A small adjustment in price can significantly alter consumer demand, profit,...
(Part 3 of 11 of the Top 10 Data Mining Mistakes, drawn from the Handbook of Statistical Analysis and Data Mining Applications) -John Elder (elder datamininglab com) “To a little boy with a hammer, all...
I quit my job as a Mathematical Statistician after one year and two days. I left behind great benefits, job security, and guaranteed raises entirely because I felt unfulfilled. I was bored, lacked a sense of a...
In a perfect world, a retailer knows exactly how much demand they can expect, they order just enough inventory from their vendors and suppliers to completely sell it throughout their stores by the end of the given...
Recently, Nissan Motor announced that they will release a self driving car by 2020. According to Karl Brauer of Kelley Blue Book, “The technology to create self-driving cars is already here, as sci-fi as it...
Prediction isn’t just for the stock market. Trading is just one of many ways to cash in on quantitative foresight. For mass marketing – and even presidential campaigns – it’s another story. In those areas, putting odds...
