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This undertaking will reveal an data-driven strategy to growing a dynamic pricing technique in hospitality trade. It’s structured as a case research, permitting you to think about every step with your individual enterprise.
By way of a structured case research, I reveal how enterprise can transition from guide, broad seasonal pricing to an automatic, data-driven pricing technique that ensures optimum pricing selections on the proper time, for the correct buyer.
· Project Overview
∘ Problem Statement
∘ Objectives
∘ Data Collection & Preprocessing
∘ Data Cleaning
∘ Data Preprocessing
∘ Feature Engineering
∘ Modeling
∘ Rule-Based Pricing Adjustments
∘ Implementation & A/B testing
· Key Takeaways
Drawback Assertion
- Static pricing mannequin: costs had been manually adjusted based mostly on broad seasonality relatively than real-time demand and competitor costs.
- Income leakage: excessive occupancy charges throughout peak intervals with out maximizing income (underpricing)…
