The retail industry faces challenges in pricing complex items such as introductory products, fresh items, loyalty pricing, and promotions. Traditional AI methods have struggled with these "unpriceable" items due to fluctuating market conditions, data sparsity, and collinearity. However, advancements in AI and data science now allow retailers to optimize pricing for more products with greater accuracy, scalability, transparency, and extensibility. Revionics' AI platform uses advanced modeling techniques like Bayesian Hierarchical Modeling to provide precise, data-driven price recommendations, helping retailers meet consumer demands, improve margins, and scale effectively.

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