AI-Driven Pricing Precision: Enhancing Customer Satisfaction

In the ever-evolving landscape of contemporary business, precise pricing strategies and customer-centricity have become paramount. This project introduces a groundbreaking pricing engine designed to revolutionize pricing strategies, offering unmatched granularity and adaptability. This innovative system empowers organizations to dissect their products and services at a detailed level, facilitating data-driven pricing decisions and cost optimizations. Additionally, it introducesflexible segmented pricing, acknowledging the diversity of customer categories, enhancing relationships, and driving loyalty and revenue growth. Advanced analytics provide a competitive edge by revealing trends and growth opportunities. Seamless integration ensures a smooth transition, making this pricing engine an essential tool in the pursuit of pricing accuracy and customer satisfaction in today's dynamic business environment. Moreover, the absence of segmented pricing capabilities limited the utility'scapacity to introduce innovative product offers. To address these issues, the utility aimed to reconstruct its pricing system, focusing on improved accuracy, flexibility, and customer experience. In the dynamic business environment of today, this pricing engine is an indispensable tool for businesses aiming to achieve pricing accuracy and elevate customer satisfaction. It represents a transformative solution, empowering businesses to not only survive but thrive in the ever-evolving contemporary business landscape.

Authors

Publication Details

Published
2024-11-18
DOI
https://doi.org/10.1109/icdici62993.2024.10810930
Primary Topic
Customer churn and segmentation
Type
article
Field-Weighted Citation Impact
0.00
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article

AI-Driven Pricing Precision: Enhancing Customer Satisfaction

Scarlett Carmen Johnson, S Varsha, Rivanthika Shri R, C. Vimala Josphine
Customer churn and segmentation
article

AI-Driven Pricing Precision: Enhancing Customer Satisfaction

Scarlett Carmen Johnson, S Varsha, Rivanthika Shri R, C. Vimala Josphine
article en

Abstract

In the ever-evolving landscape of contemporary business, precise pricing strategies and customer-centricity have become paramount. This project introduces a groundbreaking pricing engine designed to revolutionize pricing strategies, offering unmatched granularity and adaptability. This innovative system empowers organizations to dissect their products and services at a detailed level, facilitating data-driven pricing decisions and cost optimizations. Additionally, it introducesflexible segmented pricing, acknowledging the diversity of customer categories, enhancing relationships, and driving loyalty and revenue growth. Advanced analytics provide a competitive edge by revealing trends and growth opportunities. Seamless integration ensures a smooth transition, making this pricing engine an essential tool in the pursuit of pricing accuracy and customer satisfaction in today's dynamic business environment. Moreover, the absence of segmented pricing capabilities limited the utility'scapacity to introduce innovative product offers. To address these issues, the utility aimed to reconstruct its pricing system, focusing on improved accuracy, flexibility, and customer experience. In the dynamic business environment of today, this pricing engine is an indispensable tool for businesses aiming to achieve pricing accuracy and elevate customer satisfaction. It represents a transformative solution, empowering businesses to not only survive but thrive in the ever-evolving contemporary business landscape.

Decent work and economic growth
Openalex Percentile: Top 65%
Customer churn and segmentation
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