Simulating the revenue of a product with Monte-Carlo random walks
Being able to see the future would be a great superpower (or so one would think). Luckily, it is already possible to model the future using Python to gain insights into a number of problems from many different areas. In marketing, being able to model how successful a new product will be, would be of great use. In this post, I will take a look at how we can model the future revenue of a product by making certain assumptions and running a Monte Carlo Markov Chain simulation. ...