Title :
Pricing system for seeking optimal prices in the diet foods market
Author :
Ohno, Kosuke ; Yada, Katsutoshi
Author_Institution :
Fac. of Commerce, Kansai Unviersity, Osaka
Abstract :
The purpose of this study is to introduce a case study on the application of data mining technology to the matter of pricing in business, and to clarify the latent risks contained in that process. In this paper, we have used data mining technology to analyze the purchase history data of customers for the purpose of discovering the price pattern that maximizes store profits. We describe the processes from data analysis to implementing a business plan, and we consider the risks involved in the business application of data mining.
Keywords :
consumer behaviour; data mining; food products; pricing; purchasing; business plan; data analysis; data mining technology; diet foods market; optimal prices; price pattern discovery; pricing system; purchase history data; Cybernetics; Pricing; Sliding mode control; business application; data mining; diet food market; pricing;
Conference_Titel :
Systems, Man and Cybernetics, 2008. SMC 2008. IEEE International Conference on
Conference_Location :
Singapore
Print_ISBN :
978-1-4244-2383-5
Electronic_ISBN :
1062-922X
DOI :
10.1109/ICSMC.2008.4811842
