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PREDICTING MUSIC SALES VIA COMPUTER MODELING
Coopers & Lybrand is using a computer modeling software program that uses
50,000 agents to predict which music CDs will hit the charts and climb to
the top. The 30,000-line program contains information such as age, income
level, domicile, gender and buying habits for each imaginary music consumer
based on Census Bureau and market research data. After plugging in some
parameters for each CD, such as how popular the group is already, the
program spits out the answer yes, this one will sell, or no, that ones a
loser. The program attempts to overcome the shortcomings of straight
spreadsheet prognostication, incorporating some of the chaos inherent in
human affairs: There are junctures that are very difficult to describe in
mathematical equation, says the project leader. These are for very
low-probability but potentially devastating events for example, the rate
of takeoff in fads. This program can write these complex equations itself.
(Forbes 7 Apr 97)
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