Binpacking: an underused algorithm in the market research industry
In these days of ChatGPT (Chat Generative Pre-Trained Transformer) and the quest for AGI (Artificial General Intelligence), many companies invest a lot in LLM’s (Large Language Models). This also the case for Ipsos, the Market Research company I work for. That said, we also pay attention to what happens outside of the world of AI, even if it might be less fashionable at the moment. One of those good-old algorithms we recently rediscovered is the "bin packing” algorithm". I will admit that I had forgotten about these types of algorithms since the “linear programming and operational research” class when I studied computer science back in the early nineties. But recently we had to solve a problem in Ipsos that led to an age-old algorithm that is used a lot in logistics, chip design and cloud computing, but, to my knowledge, not so much in the market research industry. If you are aware of other applications in market research, feel free to add them in the comments section ...