Dynamic pricing is a very powerful tool that empowers pricing managers to optimize prices with dynamic pricing based on sales and demand.
Thanks to advanced machine learning models it’s now possible to totally automate the pricing process, using prices based on sales and demand, and therefore increasing margins and sales, and saving money on operative costs.
Hilary McElwain teaches us how to optimize prices and increase our sales and margins using Artificial Intelligence techniques and dynamic pricing. In this 15-minute video you will learn the following:
How to approach new retail challenges, such as global competition, intermediaries with power, and the low cost disruption, by changing your competitive model
Which benefits will AI-based dynamic pricing bring your business
Which companies have already started using a data-driven AI for their pricing strategy
What is actually dynamic pricing, and different types of techniques
How to measure your sales profit more accurately
When to use pricing as a source of marketing decisions
Which risks to minimize when applying AI to a business-critical process like pricing
How to keep a balance between human expertise and automation