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Calculating Price Elasticity Through KNIME

As per Wikipedia, Price Elasticity of Demand (PED or ED or PE) is a measure used in economics to show the responsiveness, or change, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. In more precise business terms, it helps in finding those products which have their sales more/less susceptible to price changes. As we know, the demand is inversely proportional to price, it is quite imperative to know this information for optimising sales…See More
Sep 14
saurabh ajmera updated their profile
Sep 13

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Data Science, Machine Learning, Business Analytics, BI
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Saurabh ajmera's Blog

Calculating Price Elasticity Through KNIME

Posted on September 13, 2019 at 5:41am 0 Comments

As per Wikipedia, Price Elasticity of Demand (PED or ED or PE) is a measure used in economics to show the responsiveness, or change, of the quantity demanded of a good or service to a change in its price when nothing but the price changes. In more precise business terms, it helps in finding those products which have their sales more/less susceptible to price changes. As we know, the demand is inversely proportional to price, it is quite imperative to know this information for…

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Optimized Deal Placement

Posted on December 6, 2018 at 11:30am 0 Comments

Optimized Promotion Placement

 

The promotions page on any website during an offer period, may it be Thanksgiving, Cyber Monday or even Ester has tons of products scattered across the page. There could be multiple business rules governing the position of the products. Couple of…

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Leveraging Fuzzy String Matching In Competitive Intelligence

Posted on December 13, 2017 at 4:30am 1 Comment

Product comparison is one of the crucial aspects of competitive intelligence (CI). There are two modes of  product comparison:

  1. Comparison of own product price across multiple channels
  2. Comparison of own product price with suitable competitor product

But, the greatest challenge in this journey is how to get the correct…

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Partner With Your Analyst

Posted on October 2, 2017 at 10:30am 0 Comments

In today’s extreme competition, no brand can survive with the myopic view of itself or the competition. A missed trend or fault in prediction of future course of events could prove a blow that the business might not be able to overcome. Further options like angry investors, lost confidence of market, downward spiral of sentiments and ultimately, acquisition can’t be ruled out.

To avoid this grim story, businesses employ or outsource Analytics & Insights (A&I) services, to…

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