Humans are pretty bad at determining how much something should cost. Make better, more scientific pricing decisions with historical data and other factors.
Set prices that balance demand, profit and risk
Sometimes, it all seems to be about price. But it’s not as simple as that, and even pricing itself is a complex practice. Low prices risk negative margin impact. High prices might scare away buyers. And then there are competitive pressures, geographical and market variations, and ever-changing cost of inputs that need to be factored in. Data science can make pricing easier, more scientific, and less subjective or even whimsical – taking into consideration all possible factors and historical data.
Learn more about price optimization including how customers react to different pricing, the four key prices to determine, and how machine learning can help.
Find out how ML can transform your business
We apply our expertise to help you identify the use cases you should tackle in your organization. The outcome is an impact-feasibility map that you can use with or without us.