{"id":63153,"date":"2023-10-16T09:00:00","date_gmt":"2023-10-16T15:00:00","guid":{"rendered":"https:\/\/www.vendavo.com\/?p=63153"},"modified":"2024-02-21T18:37:56","modified_gmt":"2024-02-22T01:37:56","slug":"solutions-review-how-to-optimize-prices-with-ai","status":"publish","type":"post","link":"https:\/\/www.vendavo.com\/in-media\/solutions-review-how-to-optimize-prices-with-ai\/","title":{"rendered":"The Price is Right: How to Optimize Prices with AI"},"content":{"rendered":"\n

AI is transforming every industry, from agriculture to utilities. It\u2019s a global game-changer when it comes to automating processes, gaining insights, and predicting outcomes, plus revolutionizing operations. The Pricing Excellence Report and 2024 Outlook<\/a> from Vendavo and Copperberg found that 51% of top pricing professionals already use AI in their pricing processes today or plan to implement it in the next 12 months. But how will they do this?<\/p>\n\n\n\n

Mitch Lee, Profit Evangelist at Vendavo, dove into this topic in an article for Solutions Review, explaining the importance of AI in pricing<\/a> and how to use it as a data-driven, decision-making, price optimization co-pilot.<\/p>\n\n\n\n

\n

From compiling price data from the web to making pricing recommendations that factor in business rules, changing competitor actions, and market trends, AI is powering timely, informed decision-making with greater efficiency. It is also upleveling professional pricers\u2019 output by eliminating the need to conduct repetitive, manual tasks.\u201d<\/p>\nMITCH LEE, PROFIT EVANGELIST AT VENDAVO<\/cite><\/blockquote>\n\n\n\n

Read the article ><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

AI is transforming every industry, from agriculture to utilities. It\u2019s a global game-changer when it comes to automating processes, gaining insights, and predicting outcomes, plus revolutionizing operations. The\u00a0Pricing Excellence Report and 2024 Outlook\u00a0from Vendavo and Copperberg found that 51% of top pricing professionals already use AI in their pricing processes today or plan to implement it in the next 12 months. But how will they do this?<\/p>\n","protected":false},"author":24,"featured_media":63154,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kadence_starter_templates_imported_post":false,"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[1239],"tags":[1519],"class_list":["post-63153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-media","tag-ai"],"acf":[],"yoast_head":"\nHow to Optimize Prices with AI | Vendavo<\/title>\n<meta name=\"description\" content=\"Mitch Lee, Profit Evangelist at Vendavo, 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