Dynamic Pricing

Project Information

The tool suggests pricing adjustments for e-commerce based on a series of distinct information, like the price of the competitors, demand information and economic drivers. Price suggestion is defined by an artificial intelligence algorithm trained by a long historical stream of data (“big data”).

Description

Tool generates the projection of product prices using a large mass of data (“big data”) and an artificial intelligence algorithm capable of identifying the projection that maximizes financial results.

Project Benefits / Impacts

The tool was able to increase the company's revenue and its market share based on a more assertive price definition, as it consider 3 years of price history for the company itself and its competitors, in addition to sales information. A “robot” automatically collects the price of its competitors on the Internet and complements a large database of information. A dashboard shows the daily price evolution of the company versus its competitors, enabling a quick reaction against the actions of its competitors or against a detachment of the company's strategy in relation to its planning.