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Data Mining Problems in Retail

Highly Scalable

Retail is one of the most important business domains for data science and data mining applications because of its prolific data and numerous optimization problems such as optimal prices, discounts, recommendations, and stock levels that can be solved using data analysis methods. However, many of these models are highly parametric (i.e.

Retail 152
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The Ever Given is Not a Black Swan Event

The Agile Manager

Though supremely efficient at sea, Emma and the even larger ships that followed in her wake became a nightmare. Optimization of the oceangoing containership fleet came at the cost of the efficiency of the rest of the supply chain into which it was integrated. In other words it creates devastating Black Swans.”

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The Management Revolution that Never Happened

The Agile Manager

Technocracy was, too: "best practice" was derived from people performing narrowly defined tasks in rigid processes that yielded poor quality products at a high cost. Wall Street Journal, 24 December 2007. Microcomputers improved the efficiency of data collection and made it easy to consolidate operational data.

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IT Governance Maximises IT Returns

The Agile Manager

So it is with IT projects: an extremely efficient IT project will still fail if it is blindsided because a market doesn’t materialise for the solution being developed. We are more tolerant to external risk factors because we don’t accumulate process debt or technical debt that makes it difficult for us to absorb risk.