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I completely disagree with the assumption that because something has been done for 60+ years it won't be improved by new, extremely relevant technologies. Amazo
by solidasparagus 7y ago
I completely disagree with the assumption that because something has been done for 60+ years it won't be improved by new, extremely relevant technologies. Amazon is very effective at both OR and organizational dynamics, but they found massive savings by using ML to predict demand and thus inventory/costs (Research is here - https://arxiv.org/pdf/1711.11053.pdf https://arxiv.org/pdf/1711.11053.pdf).
- variaga 7y agoUnless I missed it, the referenced paper doesn't quantify what savings Amazon achieved, or even if Amazon actually used the NN described. It does not support the statement "found massive savings".
- solidasparagus 7y agoNo, that was from hearing them present their work. But I do think the GEFCom2014 Electricity Forecasting benchmark is pretty clear proof that ML solutions such as these can improve expenditure decision making compared to established techniques.