ISYE 6501 HW 15, Questions with accurate answers, Graded A+

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ISYE 6501 HW 15 Question 20.1 Describe analytics models that could be used to help the company monetize their data: How could the company use these data sets to generate value, and what analytics ... models might they need to do it? There are lots of good answers, and I want you to think about two types – at least one of your answers should be based on just one data set, the one they’ve collected internally on customer browsing patterns on the web site; and at least one of your other answers should be based on combining more than one of the data sets. Think about the problem and your approach. Then talk about it with other learners, and share and combine your ideas. And then, put your approaches up on the discussion forum, and give feedback and suggestions to each other. You can use the {given, use, to} format to guide the discussions: Given {data}, use {model} to {result}. Ideas for Monetization: Using the Major from the university along with credit info to advertise related training based on expected career level. Might be able to get this just from the university data set. Using credit information along with the websites the person visited on the company’s web site may provide data for an “upsell”. If a user has excellent credit and is looking for auto parts, maybe they could be included into a list of potential car buyers to sell to dealerships in the local area. Or similarly if they are looking for items related to travel (luggage, language training, travel guides…etc) that data could be sold to websites like Travelocity and Priceline. For data set three eye tracking is mentioned, if that is in done, perhaps pupil dilation could be monitored, our pupils can dilate if something is exciting. We could use that as a potential identifier. Data from the credit bureau along with the data for offspring could be used to predict large purchasesweddings, college supplies, births of grandchildren. All of which could be used on the company website to sell related products, that are listed in this person’s feed. Matching the data: How do we match the datasets to match individuals in order to use all the data and get the highest ROI for the money we just spent? Normally you would look for a unique id for each user and match that up like in a database, unfortunately I don’t think that would be available. [Show More]

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