From the course: Business Analytics Foundations: Predictive, Prescriptive, and Experimental Analytics
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PSA use case
From the course: Business Analytics Foundations: Predictive, Prescriptive, and Experimental Analytics
PSA use case
- [Narrator] Let us now look a prescriptive analytics use case that will use decision analysis technique. Here is the goal for the use case. In our email campaign use case the conversions on Saturdays worth twice as much as conversions on other days. So, why not we do all campaigns on Saturdays? Let us try to evaluate. Here is the data about conversions by day of the week. Saturdays convert almost double as the other days. So why not do all campaigns on Saturdays only? Let us evaluate the strategy. So here are the Decision Analysis boxes. We first look at the cost impact of doing all campaigns on Saturdays. If we do all campaigns on Saturdays, the work done on that day will be six times more. This will cause overload on existing systems, manual and automated. Computers need to do more and you need more people on Saturdays to handle the load. On the other hand, systems and people who handle these campaigns will be idle…
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