Thursday, September 4, 2014

Business students to utilize price analytics software

Saint Mary’s has partnered with ProPurchaser, a price analytics software company. Students in Michael Ratajczyk’s Principles of Microeconomics and Business Intelligence will utilize the ProPurchaser tools to build price optimization models, using supply and demand factors from the market for goods available globally.

Price optimization is an integral part of an organization and deeply rooted in analytics. It involves understanding how much to charge a customer for a product or service, essentially maximizing profit, and avoiding overcharging customers and inviting them to spend their money elsewhere. Students in the Business Intelligence and Analytics program will utilize Price Optimization with retail datasets that contain over 50 million customer transactions.