Local and Global Pricing Insights

Dynamic Pricing and Machine Learning in Pricing

Posted by Stratinis on 03-Jul-2017 17:30:19

In some industries, if not most, prices have historically only been changed infrequently, but the emergence of Dynamic Pricing and the benefits it brings to sellers is changing that. Dynamic Pricing in itself is simply to update prices (more) frequently based on an underlying pricing model, in order to optimize prices in accordance with demand, competition, market conditions, customer willingness-to-pay and more. 

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Topics: Price Optimization, Pricing, machine learning, artificial intelligence