Icon

BB-132 Orthogonal Optimization Loop v05

[Building Blocks] BB-132 Orthogonal Optimization Loop with Meta Nodes
Buklding Blocks (BB-132) - Orthogonal Optimization LoopTwo Competitors are trying to simultaneously Optimize Price. Spacely Sprockets istrying to Maximize Revenue, while Cogswell Cogs is trying to Maximize Profit. Inthis case, the Products are orthogonal and differentiated. Now the Competitiondoes not drive Price down to Marginal Cost.Starting with the Spacely Sprockets, the Loop checks whether raising or loweringthe Price by 10% increases Revenue. The Loop continues until no furtherimprovement is possible. These Prices are then pushed out into the Market.Then Cogswell Cogs also decides whether raising or lowering the Price by 10%increases Profit. An Outer Loop keeps this back-and-forth Competition going.See also: Building Blocks (BB-122) Commodity Optimization Loop Two Inner LoopsEach within the Meta NodesPrice Action / Reaction by Spacely Sprocketsthen Cogswell CogsPrice Experiment = 5%Iterations = 5 Outer LoopPrice Action / Reaction by Spacely Sprockets then Cogswell CogsIterations = 10 OptimizeRevenue OptimizeProfitCurrentMarket ConditionsOrthogonalProductsWillingnessTo Pay (WTP)of CustomersCogswell CogsWTP HistogramValue Difference betweenSpacely Sprockets- Cogswell CogsValue DifferenceSpacely Sprockets- Cogswell CogsWTP HistogramSpacely SprocketsSet RevenueMaximizing PriceCogswell CogsSet ProfitMaximizing PriceOuter LoopStartOuter LoopEndSpacely SprocketsWTP HistogramSpacely SprocketsDemand CurveSort by IterationDescendingGet LastPricesCogswell CogsDemand CurveZero Correlation betweeOrthogonal Products Simulate Market Table Creator CustomerDistributions Histogram Chart(JFreeChart) Math Formula Histogram Chart(JFreeChart) Price Optimize Price Optimize RecursiveLoop Start Recursive Loop End Histogram Chart(JFreeChart) Profit Engine Sorter Row Filter Profit Engine Linear Correlation Buklding Blocks (BB-132) - Orthogonal Optimization LoopTwo Competitors are trying to simultaneously Optimize Price. Spacely Sprockets istrying to Maximize Revenue, while Cogswell Cogs is trying to Maximize Profit. Inthis case, the Products are orthogonal and differentiated. Now the Competitiondoes not drive Price down to Marginal Cost.Starting with the Spacely Sprockets, the Loop checks whether raising or loweringthe Price by 10% increases Revenue. The Loop continues until no furtherimprovement is possible. These Prices are then pushed out into the Market.Then Cogswell Cogs also decides whether raising or lowering the Price by 10%increases Profit. An Outer Loop keeps this back-and-forth Competition going.See also: Building Blocks (BB-122) Commodity Optimization Loop Two Inner LoopsEach within the Meta NodesPrice Action / Reaction by Spacely Sprocketsthen Cogswell CogsPrice Experiment = 5%Iterations = 5 Outer LoopPrice Action / Reaction by Spacely Sprockets then Cogswell CogsIterations = 10 OptimizeRevenue OptimizeProfitCurrentMarket ConditionsOrthogonalProductsWillingnessTo Pay (WTP)of CustomersCogswell CogsWTP HistogramValue Difference betweenSpacely Sprockets- Cogswell CogsValue DifferenceSpacely Sprockets- Cogswell CogsWTP HistogramSpacely SprocketsSet RevenueMaximizing PriceCogswell CogsSet ProfitMaximizing PriceOuter LoopStartOuter LoopEndSpacely SprocketsWTP HistogramSpacely SprocketsDemand CurveSort by IterationDescendingGet LastPricesCogswell CogsDemand CurveZero Correlation betweeOrthogonal ProductsSimulate Market Table Creator CustomerDistributions Histogram Chart(JFreeChart) Math Formula Histogram Chart(JFreeChart) Price Optimize Price Optimize RecursiveLoop Start Recursive Loop End Histogram Chart(JFreeChart) Profit Engine Sorter Row Filter Profit Engine Linear Correlation

Nodes

Extensions

Links

Download

To use this workflow in KNIME, download it from the below URL and open it in KNIME:

Download Workflow
Created by: Berlin
Created at: 2018-05-21
On NodePit since: 2021-02-05
Last update: 2024-11-17
Created with KNIME version: v4.3.0

Deploy, schedule, execute, and monitor your KNIME workflows locally, in the cloud or on-premises – with our brand new NodePit Runner.

Try NodePit Runner!