S4_mining_the_races_answer_guide

S4_mining_the_races_answer_guide - Ch 4 Closing Case: Data...

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Ch 4 Closing Case: Data Mining the Races—It’s About Winning, Answer Guide 1. Look at the McLaren team website (www.mclaren.com) and consider the many types of software used by a racing team. How could these types of software be used by businesses to improve their decision-making in areas such as product distribution or product development? Their venture into business software has provided simulation and decision support tools to help companies be more agile than their competitors in fast-moving markets, e.g. product development and distribution. Some algorithms used in the software are taken from the same systems that they use to make complex decisions during a Formula 1 race. This could help companies decide which products are selling better, and help to decide how shelf space should be allocated, or when new products should be ordered. Through their investment in SmithBayes, a software firm (that has since bought out their shares), they offer decision-makers a professional platform to make better and faster
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