Homework assignments, Study notes of Machine Learning

Question 19.1

Describe analytics models and data that could be used to make good recommendations to the

retailer. How much shelf space should the company have, to maximize their sales or their profit?

Of course, there are some restrictions – for each product type, the retailer imposed a minimum

amount of shelf space required, and a maximum amount that can be devoted; and of course, the

physical size of each store means there’s a total amount of shelf space that has to be used. But

the key is the division of that shelf space among the product types.

For the purposes of this case, I want you to ignore other factors – for example, don’t worry about

hypotheses are not all true – can you use analytics to check?

Think about the problem and your approach. Then talk about it with other learners, and share

and combine your ideas. And then, put your approaches up on the discussion forum, and give

feedback and suggestions to each other.

You can use the {given, use, to} format to guide the discussions: Given {data}, use {model} to

{result}.

One of the key issues in this case will be data – in this case, thinking about the data might be

harder than thinking about the models.

Optimizing Shelf Space Allocation for Retailers

Objective