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What is Price-Setting Newsvendor Problem Solved with ODA about?

This document presents a study on the price-setting newsvendor problem using a novel operational data analytics (ODA) framework that integrates data directly into decision-making. The ODA approach outperforms conventional estimation-optimization methods, particularly in scenarios with limited historical data and high demand variability, by providing more accurate profit estimates and robust performance. The findings suggest that the ODA framework leads to superior profit outcomes and lower estimation errors

Author

jzhang4

Language

EN