Setting the Price - Optimierung von Preisstrategien mit Machine Learning

Zusammenfassung

Optimizing the pricing strategy of products using machine learning for the onlineshop BRACK.CH. The best Machine Learning algorithms and parameters should be found spanning multiple experiments.

Schlüsselbegriffe

Pricing Strategy, Machine Learning

Zielsetzung

The aim of this project was to:

• Run a data exploration on the historical sales data.
• Find the most appropriate pricing strategy for all products available in BRACK.CH's online shop.
• Find seasonal products and optimize the pricing strategy accordingly.
• Predict an appropriate pricing strategy for new products without any sale data.

Ausgangslage

Historic shop metrics of the past 1.5 years of sales and product data was provided. BRACK.CH already has a system in place for optimizing the pricing strategy, which we used as a basis for the Machine Learning models.

Ergebnisse

We managed to replicate the existing pricing strategy of BRACK.CH to a certain extent. Setting an appropriate strategy for new products also works well in most cases.
Due to the limited amount of historical data, seasonal products could not be detected reliably and no machine learning model could be trained.

Projektdaten

Projekttyp	Projektdauer	Aufwand	Teamgrösse
Data Science P6	September 2023 - März 2024	360 Stunden pro Person	2 Personen

Auftraggeber

Competec Service AG
Hintermättlistrasse 3
CH-5506 Mägenwil
www.competec.ch

Projektteam

• Claire Smits
• Sean Blackburn

Kontakt

• Daniel Perruchoud (daniel.perruchoud@fhnw.ch)
• Marco Willi (marco.willi@fhnw.ch)

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