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    The New Frontier of Data-Driven Price Optimization

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    Date
    2017-11-15
    Author
    Wang, He
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    Abstract
    In practice, firms are often faced with pricing challenges including high demand uncertainty, limited inventory, and restrictions to conduct price experimentation. In this talk, I will discuss models and algorithms that combine machine learning and price optimization. The key idea of these algorithms is to use real-time sales data to improve pricing decisions. I will report simulation and field experiment results that show significant revenue improvement using these methods.
    URI
    http://hdl.handle.net/1853/59005
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    • Supply Chain and Logistics Institute Seminar Series [26]

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