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Make decisions

Managers need to make many hard decisions. It helps when they have some data to back up the decision-making process.

This class of problem generally requires 108.30.30 Data Analysis - Prescriptive analysis Here are some of the kinds of decisions they can use data science to help with:

  • Impact of packaging, upsells, new products
  • Impact of promotions
    • Are customers who use coupons borrowing from future purchases?
    • Will sale buyers become loyal purchasers?
  • Impact of displays
    • Which type of displays (e.g. End of aisle) work better?
  • Within and across category
    • Which categories are substitutes / complements?

Note, these are slightly different than the case of 108.20.10 Data Analysis - Optimize.