Optimizing E-commerce Dynamic Pricing Using Aggregated Market Data and Cloud-Based Analytics
Dynamic pricing is a key strategy in e-commerce, enabling businesses to adapt to market trends and consumer demand.This paper proposes a framework for optimizing pricing strategies using aggregated market data and cloud-based analytics.By leveraging Google Cloud services like BigQuery and Google Cloud Storage (GCS), the framework processes large-scale pricing datasets to identify trends and predict optimal price points.This study demonstrates an average accuracy of 92.5% for optimal price predictions and an 18% revenue increase during simulated promotional events.Challenges in data quality and model interpretability are addressed, paving the way for scalable cloud-native pricing strategies [1][2][3].
Authors
- Jitender Jain
- Medha Gupta
Publication Details
- Journal
- International Journal of Global Innovations and Solutions (IJGIS)
- Published
- 2024-12-29
- DOI
- https://doi.org/10.21428/e90189c8.ed197a70
- Citations
- 1
- Primary Topic
- Customer churn and segmentation
- Type
- article
- Field-Weighted Citation Impact
- 0.44