In most dynamic pricing implementations, there are multiple business goals in play, requiring combination into a single, well-defined economic problem for dynamic pricing to solve. Therefore, it’s easy to see that a generic pricing algorithm cannot serve every client without customization.
Some businesses are positioned to see greater return on investment in dynamic pricing than others. Wondering whether your business is a good fit for dynamic pricing? Consider these three factors that predict dynamic pricing success.
Trusting an algorithm to make pricing decisions can be intimidating. But a recent study published by the University of Pennsylvania’s Wharton School shows that “algorithm aversion” is normal and can be overcome.
The system, which is being touted in Britain this week by one of the biggest players in a booming US market, also promises to transform ticketing in music and theatreland…”Dynamic pricing in real time is,” one theatre executive says, “the Holy Grail.”