What are benefits champo carpets can expect from clustering

Assignment Help Computer Engineering

Reference no: EM133700603

Assignment

Case Study: Improving Business-To-Business Sales Using Machine Learning Algorithms

Case Summary: Champo Carpets is one of the largest carpet manufacturing companies based in India, with customers across the world, including some of the most reputed stores and catalog companies. Champo Carpets is based out of Bhadohi, Uttar Pradesh, which is one of the most famous clusters of carpet weaving in India. This cluster is spread over 1,000 sq. km and comprises many villages and districts in and around it. The company is a vertically integrated manufacturer and exporter of carpets and floor coverings, with more than 52 years of existence. At the beginning of 2020, the company employed 1,500 people with a capacity to produce 200,000 pieces of carpets and floor coverings per month. As part of sales and marketing, Champo Carpets shared sample designs with its potential customers, based on which the customer placed an order. The sample design selection was done in various ways and the process itself is costly and elaborate. To capture industry trends, a team of the company visited various trade shows and events and sent samples to the client as per the latest fiber and color trends. However, their sample-to-order conversion ratio was low compared to the industry average. This had cost repercussions as well as lost opportunities. The company identified the cause as inaccurate targeting of products to their customers. It subsequently implemented an enterprise resource planning (ERP) application and has been capturing data at every point of production as well as sales. They believe this accumulated data can help target their products accurately to the right clients and design an appropriate recommender system.

Learning Objectives The primary objective of the case is to illustrate how machine learning algorithms can be used to manage business-to-business (B2B) sales. The learning objectives include the following:

For a better understanding of the issues related to the problem, knowledge of data visualization using Tableau, R, or Python programming will be useful.

Task

A. With the help of data visualization, provide key insights using exploratory data analysis.

B. What kind of analytics and machine learning algorithms can be used by Champo Carpets to solve their problems and in general, for value creation?

C. Discuss the data strategy for building customer segmentation using clustering. What are the benefits Champo Carpets can expect from clustering?

D. Discuss clustering algorithms that can be used for segmenting Champo Carpets' customers.

E. Discuss the data strategy that can be used for building recommender system models.

F. What will be your final recommendations to Champo Carpets?

Reference no: EM133700603

Questions Cloud

Describe two albertan-canadian historical-political factors : Describe two Albertan/Canadian historical/political factors that have contributed to this economic issue.

What are the various dimensions of ethical leadership : Discuss what ethical leadership is and how it impacts the organizational culture. What are the various dimensions of ethical leadership?

Evaluate challenges and the implications of challenges : BUSM7065 Managing in the Global Context, Western Sydney University - How a country's cultural, economic, political, legal and regulatory system may affect

Perspective of a policy maker in your community : From the perspective of a policy maker in your community, and having reflected on the readings, post your thoughts on the direction that policing in general.

What are benefits champo carpets can expect from clustering : Discuss the data strategy for building customer segmentation using clustering. What are the benefits Champo Carpets can expect from clustering?

Should college president verified the truth of the rumors : Should the AD and college president verified the truth of the rumors?

Are there dissident-state-sponsored terrorist organizations : Are there any dissident or state-sponsored terrorist organizations that pose a threat to your community in Oklahoma? If so, who are they, and why?

Identify the plaintiff and the defendant : Identify the plaintiff and the defendant. What was the outcome in the lower court(s)? Explain the logic that supported the court's decision.

What in federal and state policy is helpful and good : What in Federal and State Policy is helpful and good?

User Account

All Pages