The New Frontier of Price Optimization

Until fairly recently, price optimization has been restricted primarily to certain industries that have limited inventory, such as airlines and hotels. It’s complex work, demanding the analysis of vast quantities of data and a deep understanding of competitors’ behavior. Until recently, few organizations could optimize the price of more than a handful of products at any one time.

As the author explains, this is changing.  Thanks to the growing availability of internal and external data, advances in machine learning, and increases in co.....