Logistics costs factor has a positive correlation with Price, i.e., logistics costs go up means the price goes up. If the algorithm underestimates the price, that means we are underestimating the logistics costs (i.e., logistics costs probably have gone up). Agree?
Underpricing even though is good might cause a price war. But as a data scientist thats up to other team and stakeholders to think of. I would start by asking common senses that i could think of and then if there are no issues i would check if there are any errors within the data provided within the pipeline before and after the price drop.
Very informative content, and a thorough exploration of the interviewee's analytical, problem solving and communication skills. Kindly post more content like this when possible.
Interesting share, but I would like to purpose a new aspect to the algorithm investigation. The algorithm underpricing behavior might derive from the fact that the algorithm maximize the revenue or profit instead of the pricing.
Yeah.... the entire point of the question is that they identified a case where it is failing to maximize the profit or revenue. The point of the word "underpricing" the product is being PRICED at a point UNDER that which would maximize profit. Nice try tho haha
Does introducing fulfillment centers reduce logistics cost? Don't think so? In order to maintain those fulfillment centers and increase the space to allocate for incoming orders the cost of logistics should go high right?
TBH, the fact that the interviewee didn't start with the algorithm optimization goal and business goal drastically reduced the trust I have on the answers. Appreciate sharing nonetheless.
Hi Jay, love the series however the quality of this one was a little poor due to the contradictory ideas and in general quite unstructured way of thinking of your guest. e.g. the example of demand being constant but the product being rendered obsolete due to 'external' factors. If this was true then in fact demand would be impacted and we would see a drop in end user preference for the product. This was just one of many examples of incoherent ideas being spoken of. Keep up the amazing work your videos are always very helpful and I'd love to one day be a guest on your interview I am an ex management consultant and now a data scientist in Sydney.
Try solving this question and more on Interview Query: www.interviewquery.com/questions
Shashank's answers are very good. I hope that I can train myself to think as fast as he does.
Thank you Jay! This is the kind of video that is lacking in youtube. Please make more of DS case study videos!
Logistics costs factor has a positive correlation with Price, i.e., logistics costs go up means the price goes up. If the algorithm underestimates the price, that means we are underestimating the logistics costs (i.e., logistics costs probably have gone up). Agree?
Underpricing even though is good might cause a price war. But as a data scientist thats up to other team and stakeholders to think of. I would start by asking common senses that i could think of and then if there are no issues i would check if there are any errors within the data provided within the pipeline before and after the price drop.
Very informative content, and a thorough exploration of the interviewee's analytical, problem solving and communication skills. Kindly post more content like this when possible.
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Interesting share, but I would like to purpose a new aspect to the algorithm investigation. The algorithm underpricing behavior might derive from the fact that the algorithm maximize the revenue or profit instead of the pricing.
Yeah.... the entire point of the question is that they identified a case where it is failing to maximize the profit or revenue. The point of the word "underpricing" the product is being PRICED at a point UNDER that which would maximize profit. Nice try tho haha
Underpricing in economics means you're underutilizing the profit potential.
Answers were very well structured and covering most of the aspects I could think of.
Does introducing fulfillment centers reduce logistics cost? Don't think so? In order to maintain those fulfillment centers and increase the space to allocate for incoming orders the cost of logistics should go high right?
Insane knowledge gain video 🔥🔥🔥
Hi Jay.. great series. Can you do a bit more on ML system design ? algorithmic approach + architecrure
TBH, the fact that the interviewee didn't start with the algorithm optimization goal and business goal drastically reduced the trust I have on the answers. Appreciate sharing nonetheless.
how can logistic cost decrease price by 50%?
Hi Jay, love the series however the quality of this one was a little poor due to the contradictory ideas and in general quite unstructured way of thinking of your guest. e.g. the example of demand being constant but the product being rendered obsolete due to 'external' factors. If this was true then in fact demand would be impacted and we would see a drop in end user preference for the product. This was just one of many examples of incoherent ideas being spoken of. Keep up the amazing work your videos are always very helpful and I'd love to one day be a guest on your interview I am an ex management consultant and now a data scientist in Sydney.
Thanks jay!!! Really helpful video
No problem!
Beautiful way of thinking 😍
Thanks Jay😊. This had helped me understand what kind of questions can be asked during a case study...Keep uploading such videos
Great answer !
This is really useful!!!
Really Nice.
Thanks for English subtitles.❤️
great content thanks
kuch zyaada hi puch nhin raha, courageous
Hardik Pandya interview at Walmart :)