The capacitated vehicle routing problem (CVRP) is a Vehicle route problem in which vehicles with limited carrying capacity need to pick up or deliver items at various locations. The items have a quantity, such as weight or volume, and the vehicles have a maximum capacity that they can carry. …

Location has a very important role in hotel business. Along side the room type, reputation, and availability of the room, the location of the hotel is a very determining factor of price of the hotel room. One of the problem while making a price prediction model based on location of…

Airbnb is a platform on which the guests (customers) searches for the accommodation/hotel room. while doing such online exchange, it is important for the customers to build trust on the host based on all the information available to the customers. Customers’ trust perception rely on many things such as hosts’…

Conjoint analysis is an effective survey technique to determine customer’s preferences. In this article, a conjoint analysis survey for an RC toy has been designed and tested with dummy customer data. An orthogonal design has been carried out in R programming language and the design has been tested with randomly…

A non-linear optimization to get optimum price bundles Bundling products is a way to get the customers more purchases than they would have without bundling. Deciding bundle prices to optimize revenue is the goal of business while making a price bundle. In this paper, a method of obtaining optimal bundle…

Segmentation of customers on the basis of their recency, frequency, and monetary scores. To increase their market share, firms in these days focus more on customer loyalty and profitability. To build a successful long term customer relationship, a firm needs to identify the true value and loyalty of its customers…

A brief introduction to customer life time value and customer acquisition cost — Are we spending too much money on our customers? How much should we spend on a customer? As a marketer while planning a marketing campaign or an ad campaign, these questions naturally come into our mind. In this article, we will explore the answers of these questions. …

Deng Xiaoping economic reforms in China to transform Chinese economy — When we look towards china, we observe heavy government investments and fast GDP growth. But after exploring the China’s economic reforms during the reign of Deng Xiaoping, I observed a totally different phenomena that laid the foundation of china’s economic success. …

Fuzzy analytical hierarchical process (FAHP) is a well-known method and can be a very useful tool to support decision making for senior managers, however, the manual or excel implementation of FAHP is a very tedious job. Manual work increases the chances of errors. A programming approach is less tedious and…