Simulates the operation of a Market over time. After purchasing a Product, the Customer's demand for that Product drops. But their Willingness To Pay (WTP) will then start to creep up until it is necessary for the Customer to again enter the Market and Purchase another Product from the Category.
Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition
A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website:
https://scientificstrategy.com/ms-201/
Workflow
[Market Simulation] MS-201 Cyclical Market Trend
External resources
Used extensions & nodes
Created with KNIME Analytics Platform version 4.3.0
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KNIME AG, Zurich, Switzerland
Versions 3.7.1, 4.3.0
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KNIME AG, Zurich, Switzerland
Version 4.3.0
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KNIME AG, Zurich, Switzerland
Version 4.3.0
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KNIME AG, Zurich, Switzerland
Version 4.3.0
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Decision Ready, LLC
Version 4.3.0
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