Dynamic Pricing

Predict willingness to pay and setup Uber-like dynamic pricing.

Product
Sales
Finance
75,000

rows of data

3 hours

time to value

81.3%

prediction accuracy

23%

increased revenue

Background

Dynamic pricing enables several businesses to price their user based on various market changes. Dynamic pricing is a way to base prices on current market conditions. Uber does it. Airbnb does it. Airlines do it too. Basically, anything that has rising and falling prices is probably using a dynamic pricing method. However, using Obviously AI, you can super charge dynamic pricing by charging users what they're willing to pay vs. a standard cost.

A hyper-casual gaming apps company in Germany decided to turn to this method of pricing to optimize revenue growth from existing users while still aiming to maintain user satisfaction. They decided to turn to Obviously AI to build their dynamic pricing model.

The Solution

With Obviously AI, the company instantly connected their historical data of users, their demographics, spending habits and total amount they have historically spent on the app.

In just minutes, they had fully trained an AI model that proactively predicted how much a new customer that signed up is most likely to pay. They integrated this model directly into their app using Obviously AI’s API to instantly show the most optimal price for that user.

The Results

Obviously AI was able to predict customer’s willingness to pay by an accuracy of 90% increasing revenue by 12% per month on each app the company offered.

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