Have a data science problem, but I am not sure how I can approach the problem.
Problem: I want to optimize my revenue, with my data. Only constraint: stock should be >0 (otherwise we will not sell anything of course).
What is a right approach for this task? I built a predictive regression tree, but that didn't showed what I want to have (only high level insights).
What do I want to have? Some kind of optimization model(?) which shows me: You will have the highest revenue, if you have Price X for product A, Price X for product B and Price X for product C.
hints are really appriciated. I work in R(studio), so an example in R would be really amazing. Thanks a lot in advance for helping me out!
Data is like this:
Revenue Units_sold Product Price Country stock 800 74 A 15 USA 0 1000 60 A 10 USA 1 500 76 B 18 GB 2 300 45 B 9 GB 900 800 67 A 11 NL 500 990 99 C 17 NL 0