Predictive Analytics for E-Commerce Sales
Document Type
Lecture
Publication Date
10-5-2023
Abstract
Consider a hotel chain that wants to predict how many customers will stay in a certain location this weekend so they can ensure they have enough staff and resources to handle . Steward Health Care, the largest for-profit private hospital operator in the United States (38 hospitals). They predicted hospital volume. Why? They found out that during peaks in patient volume, the hospital is often understaffed, and during valleys in patient volume, the hospital is often overstaffed. This is highly inefficient, and typically leads to hospitals incurring extremely high expenses for on-call staff and overtime pay . With predictive analytics, they saved 2 million dollars (just eight of the 38 hospitals in Steward’s network). Energy Companies predict energy consumption to manage capacity planning. This talk is about such applications of predictive analytics.
Relational Format
presentation
Recommended Citation
Masarifoglu, Melik, "Predictive Analytics for E-Commerce Sales" (2023). Probability & Statistics Seminar. 14.
https://egrove.olemiss.edu/math_statistics/14
