The module will provide the conceptual understanding, practical skills and experience in using programming tools for you to model and analyse demand, and to use the outcomes to optimise pricing or product availability decisions in an automated fashion. Pricing Analytics focuses on how a company should set and update pricing and product availability decisions across its various selling channels in order to maximise its profitability in an automated fashion. In other words, we are concerned with algorithms making real-time pricing decisions, rather than strategic pricing.
The emphasis is on teaching advanced statistical and optimisation concepts and techniques that are highly relevant in practice. These concepts and techniques are taught in R with the aim of enabling you to be able to develop pricing solution prototypes for real-world problems.