Final Project - Jacob LaRiviere



Data Science and Strategic PricingInstructor:Jacob LaRiviere, Affiliate Professor & Senior Researcher, MicrosoftEmail:jlariv@Final ProjectYou can work in groups up to two on this one. If there was a group of three all quarter that is OK but please keep to two. Due Thursday Dec 17th 6:30-8:20pmPlease turn in one Rmarkdown file and one powerpoint slide deck for this take home final. Now we’re going to work with a new dataset. The goal of this is to understand customer behavior of the customers who purchase the four most high revenue items. You have seven to ten PowerPoint slides to present to me, your busy manager important things about how important the top four revenue maker are and what we can do to (i) increase revenue from the top four through value based pricing and (ii) leverage those big sellers to sell other things. The content of the slides can be technical (e.g., tables from ddly and regression output) but figures are highly encouraged as they make for a more effective “presentation”. A couple of notes:This data is messy and has some weird things going on with it. Be mindful of them. You’ll see I dropped “weird” observations in my “LeadingRmd” online. Feel free to do the same. For value based pricing, you could think of targeting different types of customers (often versus not often buyers have different prices), discounts if you do/don’t buy certain things (e.g., bundles), etc.I’m not requiring it, but if you want, feel free to format the data and dates/times for extra fun analysis like tracking customers over time. Here is a resource but it isn’t needed to get 100% on the project: . Here are some things you should answer in addition to whatever you think is important. What percent of revenue does the top four (10?) by revenue Customer IDs account for? Do customers buy in “spurts” or smooth and often?Do customers who buy the top four products buy lots of other stuff too (e.g., are they also the best customers?)What are the top selling products and how much revenue do they account for?What is the demand elasticity for these goods?Is there sufficient price variation to estimate elasticities at a customer level? How would you know if there was? HINT: standard deviation is big!Are there any customer types for which it varies (e.g., big spenders versus not big spenders)?Do customers have a lot of variation in their purchase behavior? Remember this is an opportunity for you to have fun and create something interesting. We support each other and I support you in your decisions of what to put into this slide deck! If you think something is useful or important, make sure to motivate it a bit. Try to make something cool which you’ll be proud of and can talk about during a job interview. ? ................
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