How to do Product Mix Analysis with a BI Solution?(23 Mar 22) - HKU SPACE
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23
Mar 2022
(Wed)

How to do Product Mix Analysis with a BI Solution?(23 Mar 22)

Subject
FinTech and Financial Intelligence

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Date & time
23Mar 2022 (Wed)13:00 - 13:30
Venue
Zoom Webinar
Fee
Free
Speaker
  • Mr Danny W. C. Chan

Mr Danny W. C. Chan

Mr. Chan, FRM, has possessed rich experience in financial risk management, information technology and data science and worked as IT Manager over a decade. Being a practitioner in information technology, he is currently a consultant and trainer at Big Data Consultancy Services Company. Also, he is strong in Cloud-based solutions, Big Data Technology, Data Mining and Machine Learning. Moreover, Mr. Chan has obtained a Bachelor Degree in Mathematics from The Chinese University of Hong Kong as well as three Master Degrees in Risk Management Science from The Chinese University of Hong Kong, Quantitative Analysis for Business from City University of Hong Kong and Industrial Logistics Systems from The Hong Kong Polytechnic University.

Enquiry
2867 8331 (finedec@hkuspace.hku.hk)
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How to do Product Mix Analysis with a BI Solution?

Suppose your manager is considering how to promote certain product combinations.

If you are responsible for sales analytics and your manager asks you a question: How often a customer buys bread and diary products in the same order? 

How would you approach to answer your manager?

After you have managed to find the answer, more questions may come for your serious manager:
1. Is a diary product the most probable item come with a bread item? If not, what is the most popular mix?
2. Are the sales of both bread items and diary items increase or decrease together during most of the months? What other pairs of food categories bear a similar behaviour?

You must admit that these are all sensible management questions. However, you might be under pressure if the questions are continual.

The speaker will showcase you how you can deal with this kind of questions with creative BI using different approaches ranging from Simple Summation, Market Basket Analysis to Correlation Analysis.

With a similar technique, you can also find shares with prices generally going in the same or opposite directions!

This would be a worthy webinar to you if you are going to spend some time on it. You will get more than you would expect.

Big Data

Language: Cantonese (Supplemented with English)