Full Tutorial: Price Elasticity and Optimization with Machine Learning in R (feat. XGBoost)

[@k5555-b4f]

this is insanely well done :)

[@BusinessScience]

Thank you!

[@pinak_roy]

amazing tutorial indeed!

[@BusinessScience]

Glad you think so! Happy that you enjoyed it. 😀

[@tighthead03]

Woohoo 🎉

[@gaurabhsinghvi5445]

I did a similar exercise and found that the mean own price elasticity turned out be positive in Random forest for my data. How do I handle it?

[@ActiveeEdits]

I have no idea if this applies to the random forrest or any other ML techniques, but the estimated price elasticity, at least in the linear regression case will be biased. The reason is that price is endogenous. Maybe that is the reason?

[@tighthead03]

where can I get the data for this lab?

[@BusinessScience]

When you join learning labs pro, you get code, data, and replay for this lab. We have 95 data science labs now. university.business-science.io/p/learning-labs-pro