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Real-World Applications of Machine Learning in Pricing

Real-World Applications of Machine Learning in Pricing

Real-World Applications of Machine Learning in Pricing: A Practicum.

In this three-phase workshop, participants will learn how to take a data science driven approach to achieving pricing excellence. The first phase will explore how fundamental data analysis can be applied with familiar tools (like Excel) to improve pricing effectiveness. The second phase will explore the application of statistical models using popular statistical software tools (like R) to make data-driven pricing decisions. The final phase will explore the use of machine learning techniques for pricing, including data requirements, available tools, and how to evaluate machine learning models. In this hands-on session, attendees will be provided with sample datasets so they can experiment with the various techniques being discussed.

In this session, pricers will receive a strong foundation in the theory and application of data science for pricing excellence. Through this multi-phase, interactive workshop, attendees will also receive strategies for quickly and effectively implementing data-driven principles into their existing pricing tools. Attendees will have applicable steps for change within their organizations.

Wednesday Workshop 9 (May 2nd)
Level 500 Workshop

Attendees will learn:

  • Funneling business knowledge into a data science driven pricing practice

  • Assessing your data’s quality and readiness for machine learning

  • Measuring the performance and impact of a statistical or machine learning model

Justin Silver, PhD

Senior Data Scientist, PROS

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Joe Dallimore

Senior Strategic Consultant, PROS

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