Two Case studies related to optimisation. One was cost optimization and other one was Revenue optimization. What data would you look at to solve all these. How would you form the objective function.

Question

Accepted Answer

Answering a question on data and objective function for cost and revenue optimization case studies.

For cost optimization, look at data related to expenses, production costs, and resource allocation.
For revenue optimization, look at data related to sales, customer behavior, and market trends.
Objective function for cost optimization could be minimizing expenses while maintaining quality.
Objective function for revenue optimization could be maximizing profits while satisfying customer demand.
Consider constraints such as budget, capacity, and market competition when forming objective functions.

Accepted Answer

Objective function for cost will be to minimise the cost and for revenue it will be to maximise the revenue

Accepted Answer

How to penalize an XGboost model?

Two Case studies related to optimisation. One was cost optimization and other one was Revenue optimization. What data would you look at to solve all these. How would you form the objective function.

Top Walmart Data Scientist interview questions & answers

Popular interview questions of Data Scientist

Top HR questions asked in Walmart Data Scientist