Data Analytics for Retail Insights – Retail Price Estimation
This tool is determining the pricing of its products. As a result, understanding what components impact the decision-making phase of product prices becomes critical for the marketing analytics team.
This project creates an automated price suggestion system using the information from Mercari’s dataset to recommend prices to retailers for various products. This project shows you how to use EDA tools and implement Neural Networks, Support Vector Machines, and Random Forest machine learning algorithms.
Some of our projects
Industry Expertise – Boni Supermarkt is a retail chain from The Netherlands, Western Europe (UN). The company is headquartered in Nijkerk. The retailer has 44 stores in the country.
Project – AI based price suggestion system
Solution Description – Automated price suggestion system using the information from Mercari’s dataset to recommend prices to retailers for various products.How does it work – This tool analysis targeted price hikes that gather the maximum amount of money customers are willing to pay without turning them away. AI prediction system moderate price hikes that regular customers hardly realize to raise margins.
