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Optimal timing of big data application in a two-period decision model with new product sales
Computers & Industrial Engineering ( IF 7.9 ) Pub Date : 2021-07-13 , DOI: 10.1016/j.cie.2021.107550
Lei Yang 1 , Anqian Jiang 1 , Jiahua Zhang 1
Affiliation  

We study a firm's strategy in adopting big data technology to motivate consumer demand over two periods. In the first period, the firm designs a product to sell to the market and determines whether to apply big data to attract more consumers. In the second period, the firm designs a new product and determines whether to sell the old product and the new product simultaneously, where big data can also be applied in this period to stimulate more demands. We formulate this problem into four models considering whether the firm adopts big data in the first period and/or the second period, and whether the firm only sells the new product or sells both the old and new products in the second period. We find that the firm prefers to apply big data over both periods when the cost is low, only over the second period when the cost is median and will not apply big data when the cost is high. Interestingly, only applying big data over the first period also may bring the most profits with heterogeneous big data coefficients. Furthermore, applying big data in the second period is the better choice for the social welfare.



中文翻译:

新产品销售两期决策模型中大数据应用的最优时机

我们研究了一家公司在两个时期内采用大数据技术来激发消费者需求的策略。第一阶段,企业设计产品推向市场,决定是否应用大数据吸引更多消费者。第二阶段,企业设计新产品,决定是否同时销售旧产品和新产品,这个时期也可以应用大数据来刺激更多的需求。考虑企业在第一期和/或第二期是否采用大数据,以及企业是只销售新产品还是在第二期销售新旧产品,我们将这个问题分为四个模型。我们发现该公司更喜欢在成本较低的两个时期应用大数据,仅在成本中位数的第二期,成本高时不会应用大数据。有趣的是,仅在第一阶段应用大数据也可能带来最大的利润,因为大数据系数异构。此外,在第二阶段应用大数据是社会福利的更好选择。

更新日期:2021-08-15
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