Join us for a free Microsoft webinar on Interactive Price Analytics and learn more about this fascinating topic. At the end of it, you will be able to use our new solution right out-of-the-box, or work with a Microsoft solution partner to you customize the solution further, to meet your business specific needs.
The webinar runs from 10-11 AM Pacific next Tuesday, September 12th, and will be presented by Tomas Singliar, Senior Data Scientist at Microsoft.
Every business needs data-driven insights around product pricing. However, getting to the bottom of the true effects of pricing can be quite tricky. For instance, how much more of that turkey did you end up selling because it was steeply discounted versus how much of it was because it was right before Thanksgiving?
First off, you need a team of data scientists. They will tell you to run many experiments, but you’d need engineers to build a system for that. There are also many constraints. For instance, in the world of physical retail, you can often only change prices on a limited number of products at a time, and that too, perhaps only a few times each month, as new price stickers need to be created and affixed, promotional materials may need to be reprinted, and so forth.
How about just looking at the sales history to develop some new insights?
As it turns out, now you can. Our Interactive Pricing Analytics solution mitigates some of the worst pitfalls when it comes to modeling price sensitivity from historical data and can be installed into your Azure subscription in a matter of a few clicks. With our solution dashboard, you can now see optimal pricing recommendations, item elasticities at a fine-grain level, estimates of related-product effects (“cannibalization”), forecasts, and model performance metrics.
Be sure to mark your calendars now – we look forward to having you join us at the session.
ML Blog Team