Dynamically Updating Prices with Online Learning: A Practical Guide
n today’s rapidly changing markets, the ability to dynamically adjustRead More
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Optimizing Prices Using Elasticity
In this blog post, we estimate the price elasticity of demand using a linear demand function and visualize the results in Python. We set up the environment, load and explore a dataset, estimate price elasticity with ordinary least squares, and derive the revenue-maximizing price. Finally, we visualize the revenue price curve.
Leave a commentUnderstanding Price Elasticity
Understanding price elasticity is key to effective pricing strategies. Barnes Analytics specializes in analyzing price elasticity using advanced econometric models. They help businesses optimize pricing by offering data-driven insights, tailored strategies, competitive analysis, dynamic pricing, and continuous optimization, enhancing competitiveness and driving growth.
Leave a commentU.S. Economic Outlook 2024
The U.S. economy is actually in a pretty good shape. Read about what my model predicts will happen over the next 24 months. A recession is unlikely, over the next 2 years, but if one does happen, it probably won’t be too bad.
Leave a commentQuantile Regression in Python
So I wanted to write a little tutorial on quantileRead More
Leave a commentThe Central Limit Theorem
The central limit theorem is probably the most important resultRead More
Leave a comment5 Ways to Spot a Toxic Data Culture
There are tons of ways that your organization’s data cultureRead More
Leave a commentEmpirical Bayes By Hand And In Python
So I’m writing this little post about Empirical Bayes andRead More
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