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205535657
Pricing Analytics: Models and Advanced Quantitative Techniques for Product Pricing
89% of respondents would recommend this to a friend
Item #:
205535657
SRD 2867
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This book provides the statistical modeling tools needed to set the right price for a product by emphasizing the interlocking components of economic theory and statistical principles.
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What Stands Out
Advanced Analytics
Utilizes sophisticated algorithms and statistical models, empowering businesses to make data-driven pricing decisions that enhance profitability and market competitiveness.
Customizable Models
Offers tailored pricing frameworks to suit diverse industry needs, allowing users to adapt strategies for specific market conditions and consumer behaviors.
User-Friendly Interface
Features an intuitive design that simplifies complex calculations, enabling users from various backgrounds to easily analyze pricing scenarios and derive actionable insights.
Product Details
- The theme of this book is simple. The price – the number someone puts on a product to help consumers decide to buy that product – comes from data. Specifically, itcomes from statistically modeling the data.This book gives the reader the statistical modeling tools needed to get the number to put on a product. But statistical modeling is not done in a vacuum. Economic and statistical principles and theory conjointly provide the background and framework for the models. Therefore, this book emphasizes two interlocking components of modeling: economic theory and statistical principles.The economic theory component is sufficient to provide understanding of the basic principles for pricing, especially about elasticities, which measure the effects of pricing on key business metrics. Elasticity estimation is the goal of statistical modeling, so attention is paid to the concept and implications of elasticities.The statistical modeling component is advanced and detailed covering choice (conjoint, discrete choice, MaxDiff) and sales data modeling. Experimental design principles, model estimation approaches, and analysis methods are discussed and developed for choice models. Regression fundamentals have been developed for sales model specification and estimation and expanded for latent class analysis.
| Publisher | Routledge |
| Publication date | 26 Jun. 2018 |
| Edition | 1st |
| Language | English |
| Print length | 338 pages |
| ISBN-10 | 1138623938 |
| ISBN-13 | 978-1138623934 |
| Item weight | 499 g |
| Dimensions | 15.6 x 1.96 x 23.39 cm |
Who Should Buy?
-
Data Analysts
Ideal for data analysts looking to leverage advanced quantitative techniques for effective product pricing strategies.
-
Pricing Managers
Essential for pricing managers who need to implement data-driven pricing strategies to maximize revenue and competitiveness.
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E-commerce Businesses
Beneficial for e-commerce platforms aiming to optimize prices based on analytics and market trends for better sales.
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Small Startups
May not suit small startups with limited budgets or resources for advanced analytics and modeling techniques.
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Data Mining Editorial Review
Pricing Analytics: Models and Advanced Quantitative Techniques for Product Pricing is an essential resource for professionals looking to deepen their understanding of pricing strategies. This book, published by Routledge, spans 338 pages and provides in-depth analytics models which can enhance decision-making processes in pricing. Its first edition, released on 26 Jun. 2018, offers sophisticated quantitative techniques tailored for today’s market demands. The book’s methodologies are relevant for various industries, providing both theory and practical applications. Readers appreciate its clarity and thorough examples, making complex concepts more accessible. It serves as both a comprehensive guide and a reference for advanced pricing analytics.
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Pros
- In-depth analytics models for effective pricing strategies
- Clear explanations that enhance understanding of concepts
- Practical applications relevant to various industries
- Well-structured for both beginners and advanced readers
Cons
- Some readers may find it dense in content
Product Price History
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SRD 2867
Order now and get it around Sunday, October 11
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Features & Benefits
- Provides understanding of economic theory for pricing, especially elasticities
- Focuses on statistical modeling for elasticity estimation
- Covers advanced choice and sales data modeling techniques
- Discusses experimental design principles and model estimation approaches
- Develops regression fundamentals for sales model specification
- Expands into latent class analysis for in-depth insights
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