PriceIt is a system for the pricing optimization in different market scenarios
Dynamic pricing is a powerful approach adopted by online stores to modify in real-time the prices to show to user. This allows to increase the revenues and quickly adapt to market conditions without incurring costs.
PriceIt exploits advanced AI techniques to promptly adapt the pricing strategies to the market and users’ behavior changes. It acquires real-time data to always update its ML prediction models, adjust the price and catch selling opportunities. PriceIt can be customized by the seller needs and requirements. For instance, the variability of the prices changes can be regulated to avoid that users modify their behavior strategically.
We provide the following tools that can be customized to customer needs:
PriceIt for Goods is a system for the dynamic pricing of goods. We provide tools able to optimize the price of both physical and immaterial goods, with large or limited stocks. It exploits Online Machine Learning approaches to dynamically change the price strategies according to the demand prediction, the timing, the location and the competitive pressure.
Furthermore, It exploit explainable AI algorithms to identify user clusters with different reservation prices and perform the optimal strategy for each of them.