AI, ML, Data Science, Algorithms - these are just the fancy buzzwords we have tended to associate with how we analyze data. We have been doing a lot of these st

AI, ML, Data Science, Algorithms - these are just the fancy buzzwords we have tended to associate with how we analyze data. We have been doing a lot of these stuff (especially if you are in the software engineering world for business and consumer products). Iterating to the author's given examples, we have probably been doing: What would be the net effect in terms of sales and profit if we reduce our price by 5 cents, but increased our sales 25x? Those are already models that encompasses predictive modeling, where we provide inputs and determine from a given set of output based on general assumptions backed by data.