The New Frontier of Price Optimizationby@tullika
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The New Frontier of Price Optimization

by Tullika3mOctober 22nd, 2020
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MIT researchers have developed a way for optimizing the prices of hundreds of products in an inventory on a non-stop basis. The researchers succeeded in increasing the retailer's profit, revenue, and market share by more than 10 percent. The price-demand curve is then redrawn to match actual results with the predictions. Machine learning software takes into account a large number of products and analyzes the most minute criteria. It helps companies stay updated on competitors' price strategies and deals. The large amount of data analyzed helps the algorithm predict pricing trends.

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Tullika

Tullika

@tullika

Senior Analyst at Intelligence Node, a retail analytics and AI price optimization company

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Tullika@tullika
Senior Analyst at Intelligence Node, a retail analytics and AI price optimization company

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