Question
Assignment Description: Using the scenario below I am supposed to determine which Data Analytic technique would be the most effecient to predict the grey market
Assignment Description: Using the scenario below I am supposed to determine which Data Analytic technique would be the most effecient to predict the grey market for the LV bags on the website. The techniques are (Linear Regression, Logistic Regression, Neural Networks, Decision Trees, and Cluster Analysis)
Gray market of luxury handbags A gray market is an unauthorized distribution channel of genuine branded products. Brand ownersoften price their products differently across different geographical regions. Because of the pricegaps, gray market sellers can buy branded products at the retail price from the origin countries andthen resell them in other countries to make a handsome profit. One example of this phenomenonhas been seen on Taobao.com, Chinas equivalent of Amazon, where the top two guests on theVIP list of LVs Galeries Lafayette location regularly resell LV handbags. The rising of onlinegray markets may lead to a financial loss to the authorized distributors and subsequently damagethe brand owners relationship with their authorized distributors. Therefore, it is important forbrand owners to predict sellers pricing decision in gray markets in order to better address thisthreat.We developed a web crawler to automatically collect all listings of LV handbags on Taobao.com.For each listing, we collected information such as listing prices, seller location, counts of listingpage being marked as favorite, transaction history, etc. The graymarket.xlsx file contains real datathat were collected in the first week of June in 2011. The Codes worksheet explains all the variablesavailable including predictors and response (ListingPrice).
I can send the excel spreadsheet included. Not sure how to attach.
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