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Optimization statistical/mathematical equation to understand buying pattern and predict future revenue mix

$8-15 USD / hour

Completed
Posted over 9 years ago

$8-15 USD / hour

A sales outlet selling 3 different products which are either bought individually or together, either as 2 or 3 have seen 7 different buying clusters (as shown in the attached 3 concentric rings). The outlet has been able to capture the pattern of sales from Jan to June for each of the 7 buying clusters. The business intent of the store is to ensure that more customers move into the innermost concentric ring of customers i.e. who buy the 3 products together. This is good because when customers buy all the 3 together, the likelihood of staying with the store is highest. This cluster of customers have been growing from January till date as the store offers special discounts for 2-in-1 or 3-in-1 purchases. The store now need to understand the pattern of change in the contribution of each of the 3 products and 7 buying patterns as seen from January to July to determine/develop the following: a) The relational logic and the optimal mix of the 7 buying clusters/3 products b) Optimization equation to determine future c) Predictive equation to determine optimal level of each of the 7 clusters for each month from September to December based on the historical pattern. The expected total revenue forecast for September –December is available buit need to understand how each element will optimally contribute if we develop an optimization equation using the 7 buying clusters.
Project ID: 6347856

About the project

6 proposals
Remote project
Active 10 yrs ago

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In this project we need to use some standard machine learning/data ming models to understand how different products are playing role in the buying pattern. We have historical data to develop a statistical model/mathematical equation which we will use to predict the future. The development of the model depends on several factors, most importantly, size of historical data. Once the input data is understood, I will decide which model is best suited in this case. Once model selection is made, historical data will help us to calibrate the model. I have very good experience in predictive analytics and forecasting models. So, I can give 1) Good exploratory analyses of the historical data 2) Remove noise and in-correct information that may be present in to the data 3) Develop forecasting model 4) Make the model self-calibrated once different or larger historical data is available I am keen to discuss the project requirement in more details and explore different possibilities.
$12 USD in 4 days
5.0 (1 review)
1.6
1.6
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Hello Hagof, I saw your need for analysis and optimization of sales for the 7 possible groupings of 3 products. Data analysis and optimization are a couple areas of my specialty. This, coupled with my formal education in mathematics, statistics, and engineering make me confident that I would be an excellent candidate for this work. I would be happy to work with you again. If you have any questions or comments, please let me know as I would be happy to discuss this with you. Looking forward to continuing our relationship, ~Mark, (MasterOfNumbers) [100% completion, 100% on-time, 100% satisfaction, 100% guarantee]
$15 USD in 10 days
5.0 (20 reviews)
4.2
4.2
6 freelancers are bidding on average $13 USD/hour for this job
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Hello, Expert here, I am a Statistician invloved in United Nations projects in Geneva. I would be very happy to assist you in this project. Hear from you soon Best Fouad
$12 USD in 4 days
5.0 (5 reviews)
3.5
3.5
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As a Post Graduate in Statistics and graduate in mathematics, i have a lot of experience in handling statistical data, especially in Time Series Modelling & Forecasting, Regression analysis,correlation , ANOVA, statistical hypothesis testing, Descriptive measure etc. I have done various projects based on statistical concepts with the help of different statistical software packages like R, SPSS, Minitab etc. You will highly appreciate my work if you give me a chance to do your work professionally.
$13 USD in 4 days
5.0 (3 reviews)
1.9
1.9
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$12 USD in 4 days
0.0 (0 reviews)
0.0
0.0
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$12 USD in 4 days
0.0 (0 reviews)
0.0
0.0

About the client

Flag of NIGERIA
Johannesburg, Nigeria
5.0
229
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Member since Dec 28, 2011

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