Machine Learning in Pricing

Machine learning in pricing involves using computer algorithms to analyze large amounts of data—such as sales history, market trends, and customer behavior—to determine optimal prices for products or services. The system learns from this data over time, identifying patterns and adjusting prices dynamically to maximize revenue, competitiveness, or profitability. This approach allows businesses to respond quickly to market changes and customer preferences, ensuring prices are fair and competitive while achieving business goals. Essentially, it automates and enhances the pricing process through intelligent data analysis and pattern recognition.