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Saturday, July 02, 2016

Set Diversity Optimization

A topic not often distinctly mentioned, but it is an element of many problems.  Should get more attention.  In Open Data Science.   Contains a number of good business examples.   A broad definition of decision success.  Might be a good idea to always think of problems this way so that measures used and solutions are thought of in the same way.  Technical:

" ... Consider the following problem: for a number of items U = {x_1, …x_n} pick a small set of them X = {x_i1, x_i2, ..., x_ik} such that there is a high probability one of the x in X is a “success.” By success I mean some standard business outcome such as making a sale (in the sense of any of: propensity, appetency, up selling, and uplift modeling), clicking an advertisement, adding an account, finding a new medicine, or learning something useful.   .... " 

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