Category Archives: Optimization
Pricing Optimization & Machine Learning Techniques
Pricing is a critical component of price optimization. In this blog post, we will dive into pricing optimization techniques and machine learning use cases. Price optimization techniques are used to optimize pricing for products or services based on customer response. AI / Machine learning can be leveraged in pricing optimization by using predictive analytics to predict consumer demand patterns and identify optimal prices for a products or services at a given time in the future. What is pricing optimization? Price optimization is a process where businesses use price discrimination to maximize revenue from customers. It is the process of pricing goods and services to maximize profits by taking into account …
Convex optimization explained: Concepts & Examples
Convex Optimization is one of the most important techniques in the field of mathematical programming, which has many applications. It also has much broader applicability beyond mathematics to disciplines like Machine learning, data science, economics, medicine, and engineering. In this blog post, you will learn about convex optimization concepts and different techniques with the help of examples. What is convex optimization? A convex optimization problem is an optimization problem where you want to find a point that maximizes/minimizes the objective function through iterative computations (typically, iterative linear programming) involving convex functions. The objective function is subjected to equality constraints and inequality constraints. Inequality constraints indicate that the solution should lie …
