Building Profitable Models - Lessons from Marks and Spencer

Discover strategies for developing profitable data science models in this 39-minute talk from the Data Science Festival. Explore how Marks and Spencer's Enterprise Data Science and Analytics team tackles challenges in supply chain and product lifecycle management. Learn techniques to increase model success probability, including analyzing current decision-making processes, quantifying forecast accuracy improvements, and optimizing decision rules. Gain insights on selecting metrics for profitable model training and leveraging probabilistic forecasting. Suitable for non-technical audiences, this session from the Data Science Festival MayDay event 2024 offers valuable lessons applicable across industries seeking to enhance their data-driven decision-making processes.