An ongoing challenge for any firm is estimating demand for new products. This is especially true when the product has new technology or is replacing an existing product and the additional function in the new product is limited. Often a mathematical constructed called an S curve is helpful. This blog provides an overview of S curves and why they can be helpful.
Taking the mystery out of the rapid growth of COVID19 and the purpose of social distancing – some basics for Octogenarians
The spread of the COVID19 virus is a major concern of everyone. Typically, two critical questions are being asked: why it seemed to grow so quickly over the last few weeks and what is the impact of social distancing. This blog provides a kitchen table explanation of “rapid growth” and how social distancing might dampen growth.
Probabilities are persuasive in supply chains and analytic methods – especially in machine learning where conditional probability is a dominant underlying structure that makes or breaks the success of an application. In this blog, we will learn how to take the mystery out of the term ‘conditional probability’.
In this blog, you will learn some basic guidelines to determine if the data is quantitative or qualitative with a focus on...