What is price optimization and how is AI being used?
To start, Price Optimization is a technique to help businesses make better decisions around pricing, whether the goal is setting a list price, a discount, or a rebate. The goal with any price optimization approach is to use data science to better understand what a customer values about your products
To start, Price Optimization is a technique to help businesses make better decisions around pricing, whether the goal is setting a list price, a discount, or a rebate. The goal with any price optimization approach is to use data science to better understand what a customer values about your products
AITech Interview with Doug Fuehne, Sr. VP of Impact at Pricefx
AI is enhancing a variety of industries but what does it look like for pricing software?
What is price optimization and how is AI being used?
To start, Price Optimization is a technique to help businesses make better decisions around pricing, whether the goal is setting a list price, a discount, or a rebate. The goal with any price optimization approach is to use data science to better understand what a customer values about your products, which can help you understand what they may be willing to pay for that product. Price optimization uses data of all kinds to help with this estimation, and then provides recommendations to business users about what level to set a price.
