Dynamic Pricing with Predictive Analytics Smart Generation of Optimal Prices for Offline and Online Businesses For any company selling products or services, whether online or in brick-and- mortar stores, setting the optimal price is everything. And it’s a fine balance to find the equilibrium between what customers are willing to pay and what the business’s profit margins can withstand. The big players have continually proved price optimization as a strategy critical to their success - Walmart reportedly changes its pricing more than 50,000 times per month, and they have the growth rate to show for it. Dynamic pricing, a highly flexible approach to setting the cost for a product or service, is one way to find this optimal balance. But so far, dynamic pricing has only been used widel

Join for free to read