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Requirements Clarification & Assessment
Understanding the Objective:
The primary goal is to predict the optimal bid for a new, previously unseen keyword using a dataset comprising keywords and their corresponding bid prices.
Dataset Characteristics:
Two columns: Keywords and Prices.
Potentially large dataset with millions of entries.
Clarifying Questions:
What is the business value of optimizing these bids? Is it to maximize ROI or maintain a competitive position?
How often do keywords and their bid values change? Is the data static or dynamic?
Are there any benchmarks or previous models for comparison?
Is there a need for real-time predictions, or can they be batch processed?
Constraints and Considerations:
The model should handle a large volume of data efficiently.
Keyword data is textual, requiring text processing techniques.
The model should be adaptable to changes in keyword popularity and pricing trends.