AI-Based Dynamic Pricing System for Online Retailers
Submitted to: Er. shailja Saini
Project Supervisior
3rd Prakhar Tyagi
dept. of Computer Engineering Chandigarh University
Mohali , India
1st Navneet Singh
dept. of Computer Engineering Chandigarh University
Mohali , India
4th Deepanshu Pal
dept. of Computer Engineering Chandigarh University
Mohali , India
2nd Suraj Ashok Kumar Yadav dept. of Computer Engineering Chandigarh University
Mohali , India
Abstract - The competitive environment within online shopping requires pricing strategy to fulfill both business success and satisfied customer requirements. Online market conditions transform too quickly for static price strategies to adapt their pricing effectively to both market changes and customer need alterations. This research creates an AI-based price management system with machine learning combined to real-time analytics for guiding retailers toward making their best price decisions. The proposed system combines competitor-pricing information from market characteristics with customer patterns and market demand data trends to automatically modify prices which both builds market competitiveness while achieving maximum financial outcomes. The predictive analysis with reinforcement learning allows systems to predict market price alterations which direct optimal price modifications. Multiple computational algorithms involving regression models and deep learning approaches are evaluated by the study to determine their suitability for price optimization functions. The research evaluates both customer purchasing behavior changes and profit generation as well as competitive market adjustment when businesses utilize dynamic pricing strategies. Experimental tests confirm how dynamic pricing algorithms surpass traditional pricing methods because they let companies gain better market response control. The study makes contributions to AI-based e-commerce research by exploring the benefits as well as drawbacks of automated pricing methods. Multiple research studies indicate that Artificial Intelligence technology enhances business intelligence capabilities and generates revenue growth opportunities for internet retail businesses.
Keywords - Machine Learning , Artificial Intelligence (AI), E-commerce, Real-time Data Analysis, Price Optimization.
