Includes bibliographical references (p. [147]-151) and index
1. Theory of pricing analytics -- 2. The practice of pricing analytics -- 3. Dynamic pricing and markdown optimization -- 4. Pricing in business-to-business environments -- 5. Customer behavior aspects of pricing -- Appendix A. Dichotomous logistic regression -- Appendix B. Pricing analytics using R -- Notes -- References -- Index
Pricing analytics uses historical sales data with mathematical optimization to set and update prices offered through various channels in order to maximize profit. A familiar example is the passenger airline industry, where a carrier may sell seats on the same flight at many different prices. Pricing analytics practices have transformed the transportation and hospitality industries and are increasingly important in industries as diverse as retail, telecommunications, banking, health care, and manufacturing. The aim of this book is to guide students and professionals on how to identify and exploit pricing opportunities in different business contexts
