Data-Driven Business Opportunity Decision Making Using Markov Chain Model

Business opportunity assessment with an information driven method may not be a simple or direct procedure. The accomplishment of the business opportunity is dependent upon outer market factors, including economic situations for businesspeople when all is said in done and administrative systems influencing access to customer and work markets and fund. The business visionary may have a constrained or no influence over such outer conditions. In this way, the data stream important to finish up the monetary standpoint of the market (positive or negative) for the business opportunity may not be accessible (i.e., the market data might be defective). Besides, the “genuine market” possibly shrouded when that data isn’t noticeable. This undertaking intends to build up an algorithmic information examination method for business visionaries to break down inadequate information from outer market factors for a speculation portfolio under the information driven point of view of enterprise. The ideal speculation portfolio adjusts the exchange off between expected returns and market data and is furtherly directed by the businessperson’s hazard inclination and operational deficiencies. The proposed somewhat watched Markov choice procedure (POMDP) model sets up a probabilistic connection between a noticeable and the shrouded advertise process by means of the business visionary’s venture portfolio. At that point the model recognizes a probabilistic data measure to evaluate the association between the perceptible and undetectable procedure to all the more likely comprehend the condition of the market for the business opportunity. With the probabilistic data measure, the business visionary at that point could develop and test new speculation portfolios that are most appropriate for the market concerning businessperson hazard inclination and operational deficiencies.

Keywords: Business opportunity evaluation; Decision making under uncertainty; Partially observed Markov decision process