Transforming E-Commerce: Unleashing The Potential Of Dynamic Pricing Optimization Through Artificial Intelligence For Strategic Management

Abstract

Online pricing is quite straightforward and might be the main factor in an online purchase. Even while price volatility is not new and is frequently used to boost sales and profitability, online businesses really benefit from it. The suggested study is the outcome of an ongoing project that intends to improve customers' ability to acquire the proper price on an e-commerce platform by employing reliable machine learning algorithms to produce a broad structure and relevant methodologies. Although the focus of this study is mostly on inventory-led e-commerce businesses, online marketplaces without stocks can also adopt this paradigm. With the use of statistical and machine learning methods, the study aims to forecast consumer choices based on dynamic or adaptive product pricing.