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.
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