Problem

In the e-commerce world, prizes are sometimes the key element for the user to buy. Competitors will adjust their prizes to lure clients, making it an arduous subject to stand out. Our client needed to update the prizes in order to reduce the gap with the competition as quick as posible.

Solution

A system was built to track the main competitions' prizes while predicting future changes. Crossing that information with the number of articles in stock and with the margin over the price, a dynamic model was created to adjust the prices.

The main characteristics of the projects are:

• Price tracking was done every 5 minutes, allowing quick decision making.
• The model was resistant against typing errors, and modifications from someone other than de administrator.
• Prize predictions was proven effective for a 6 month period.

At last, a control panel was built for giving the client prescriptions based on collected data.

All measures were successful with an increase in sales of over 27% and new client catchment of over 12%