How to do Price Optimization for Maximizing Profit $$$ using Demand Data
Автор: Michael Cortes
Загружено: 2023-12-08
Просмотров: 2791
Описание:
In this video we review a framework for calculating optimal prices using demand curves. To do this type of price optimization, we look at historical avocado sales data (from Kaggle, link below) that has avocado sales volume at different avocado prices, construct a demand curve, and then compute price at which we attain the highest expected total profit.
There are many ways to do price optimization, but this is one of the core methods to use. It requires having a sales dataset with a range of prices used.
Link to Excel file with calculations:
https://github.com/michaelgcortes/opt...
Link to dataset:
https://www.kaggle.com/datasets/neuro...
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