Machine learning in dynamic pricing: CHI Software’s experience
One of the critical decisions a company makes about a product is its price. Nowadays, merchants require sophisticated pricing strategies to succeed in a highly competitive marketplace and satisfy all consumers' needs. Businesses face two key challenges: optimizing prices and managing income in a constantly changing environment. So, companies use a strategy called dynamic pricing to solve them simultaneously. The method's efficiency can be noticeably increased with artificial intelligence (AI)...
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