Application of hidden Markov model to products shelf lives

The parameters of the HMM are estimated by means of EM algorithm (expectation and maximisation) and the outcomes are used in conjunction with correspondence analysis in order to compare the evolution of the decay of several products. The approach is mainly meant to be descriptive as it makes it possible to depict and compare the evolution of the decay of various products. However, it is possible to predict the future states of decay for a product by using the Markovian model. The efficiency of the general approach is demonstrated on the basis of a real data set.