Spaces:
Runtime error
Runtime error
Commit
Β·
e8d91c4
1
Parent(s):
018c4b8
Add introduction
Browse files
app.py
CHANGED
|
@@ -27,8 +27,27 @@ st.set_page_config(
|
|
| 27 |
st.title("πΈ Dynamic Pricing πΈ")
|
| 28 |
st.subheader("Setting optimal prices with Bayesian stats π")
|
| 29 |
|
| 30 |
-
# (
|
| 31 |
-
st.header("
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 32 |
|
| 33 |
st.markdown("The beginning is usually a good place to start so we'll kick things off there.")
|
| 34 |
st.markdown("""The one crucial piece information we need in order to find the optimal price is
|
|
|
|
| 27 |
st.title("πΈ Dynamic Pricing πΈ")
|
| 28 |
st.subheader("Setting optimal prices with Bayesian stats π")
|
| 29 |
|
| 30 |
+
# (0) Intro
|
| 31 |
+
st.header("Why care about dynamic pricing? π")
|
| 32 |
+
|
| 33 |
+
st.markdown("""Dynamic pricing aims to actively adapt product prices based on insights about
|
| 34 |
+
customer behaviour. \n
|
| 35 |
+
This pricing strategy has proven exceptionally effective in a wide range of industries: from
|
| 36 |
+
e-commerce (e.g., eBay) to airlines (e.g., Delta Airlines) and from retail (e.g., Walmart) to
|
| 37 |
+
utilities (e.g., Tampa Electric) as it allows to **adjust prices to changes in demand patterns**.""")
|
| 38 |
+
st.markdown("""It is hardly surprising that recent times of extraordinary uncertainty and volatility
|
| 39 |
+
caused a surge in adoption of dynamic pricing strategies with an [estimated 21% of e-commerce
|
| 40 |
+
businesses reportedly already using dynamic pricing](https://www.statista.com/statistics/1174557/dynamic-pricing-ecommerce-companies-worldwide/)
|
| 41 |
+
and an additional 15% planning to adopt thestrategy in the upcoming year.""")
|
| 42 |
+
st.markdown("""To find a big success story, we should look no further than Amazon who (on average)
|
| 43 |
+
change their products' prices once every 10 minutes. They attribute roughly [25% of their e-commerce
|
| 44 |
+
profits](https://dzone.com/articles/big-data-analytics-delivering-business-value-at-am)
|
| 45 |
+
to their pricing strategy.""")
|
| 46 |
+
st.markdown("""In what follows we'll discuss the working principles & challenges in the field of
|
| 47 |
+
dynamic pricing, followed by an interactive demo and some final considerations.""")
|
| 48 |
+
|
| 49 |
+
# (1) Basics
|
| 50 |
+
st.header("Back to basics π")
|
| 51 |
|
| 52 |
st.markdown("The beginning is usually a good place to start so we'll kick things off there.")
|
| 53 |
st.markdown("""The one crucial piece information we need in order to find the optimal price is
|