mathiasleys commited on
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Add introduction

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Files changed (1) hide show
  1. app.py +21 -2
app.py CHANGED
@@ -27,8 +27,27 @@ st.set_page_config(
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  st.title("πŸ’Έ Dynamic Pricing πŸ’Έ")
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  st.subheader("Setting optimal prices with Bayesian stats πŸ“ˆ")
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- # (1) Intro
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- st.header("Let's start with the basics 🏁")
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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  st.markdown("The beginning is usually a good place to start so we'll kick things off there.")
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  st.markdown("""The one crucial piece information we need in order to find the optimal price is
 
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  st.title("πŸ’Έ Dynamic Pricing πŸ’Έ")
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  st.subheader("Setting optimal prices with Bayesian stats πŸ“ˆ")
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+ # (0) Intro
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+ st.header("Why care about dynamic pricing? πŸ’­")
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+
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+ st.markdown("""Dynamic pricing aims to actively adapt product prices based on insights about
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+ customer behaviour. \n
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+ This pricing strategy has proven exceptionally effective in a wide range of industries: from
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+ e-commerce (e.g., eBay) to airlines (e.g., Delta Airlines) and from retail (e.g., Walmart) to
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+ utilities (e.g., Tampa Electric) as it allows to **adjust prices to changes in demand patterns**.""")
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+ st.markdown("""It is hardly surprising that recent times of extraordinary uncertainty and volatility
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+ caused a surge in adoption of dynamic pricing strategies with an [estimated 21% of e-commerce
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+ businesses reportedly already using dynamic pricing](https://www.statista.com/statistics/1174557/dynamic-pricing-ecommerce-companies-worldwide/)
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+ and an additional 15% planning to adopt thestrategy in the upcoming year.""")
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+ st.markdown("""To find a big success story, we should look no further than Amazon who (on average)
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+ change their products' prices once every 10 minutes. They attribute roughly [25% of their e-commerce
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+ profits](https://dzone.com/articles/big-data-analytics-delivering-business-value-at-am)
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+ to their pricing strategy.""")
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+ st.markdown("""In what follows we'll discuss the working principles & challenges in the field of
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+ dynamic pricing, followed by an interactive demo and some final considerations.""")
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+
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+ # (1) Basics
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+ st.header("Back to basics 🏁")
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  st.markdown("The beginning is usually a good place to start so we'll kick things off there.")
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  st.markdown("""The one crucial piece information we need in order to find the optimal price is