To buy or not to buy, that is the question: Predicting what shoppers will buy in grocery retail
A talk by David Hoyle from dunnhumby.
Predicting how much a product is going to sell each week is a key task for any grocery retailer. That is the job of a demand model. A good demand model can be used to forecast future sales, diagnose issues with past sales performance, and optimize how a product is priced and promoted. But building a demand model that can do all those things is not straightforward.
In this talk, David will go through what a demand model is, what requirements and constraints we need to put on a demand model, what issues and challenges arise when building a demand model, and how we go about solving those challenges. The talk will mostly be a high-level overview with some mathematical detail.
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