Business Analytics for Price Optimization

Hui Xiang Chua

Chapter 17 in Business Analytics:Progress on Applications in Asia Pacific, 2016, pp 488-509 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This project examined how a fashion retailer can use its massive wealth of transactional data to optimize pricing decisions for two of its franchised brands. The main challenges faced by fashion retailers include pricing and predicting demand for products for each department within the store. The project set out to create a demand prediction model to understand the factors that affect demand and determine the extent to which prices and discounts can impact demand. The differences between customers holding membership with the retailer and non-members were examined and the how seasonal promotions impact customer demand.

Keywords: Business Analytics; Entrepreneurship; Big Data; Information Technology (search for similar items in EconPapers)
JEL-codes: L26 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.worldscientific.com/doi/pdf/10.1142/9789813149311_0017 (application/pdf)
https://www.worldscientific.com/doi/abs/10.1142/9789813149311_0017 (text/html)
Ebook Access is available upon purchase.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:wschap:9789813149311_0017

Ordering information: This item can be ordered from

Access Statistics for this chapter

More chapters in World Scientific Book Chapters from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().