The pricing process is a strategic business activity that requires continuous analysis and information sharing between departments in order to be assertive and financially beneficial. Over the years, it has been getting optimized through increasingly intelligent, dynamic processes powered by technology.
The intelligent dynamic pricing strategy is used to generate prices based on the analysis of information captured in the market (competition) and even on probabilistic values generated by the use of Artificial Intelligence (AI). This innovative approach has gained prominence among organizations from different sectors, starting to be adopted by the main companies in the digital world or in the process of digital transformation, offering agile market adaptability, competitiveness, and profit maximization.
Based on that, today in our blog we are going to present dynamic pricing in private education, as it is one of the most important and challenging decisions in the sector.
How to value the brand and, at the same time, consider the investment possibilities of your students? How to price correctly in a market where scholarships are often offered? And yet, how to define the ideal tuition fee/scholarship for each student and at the same time ensure uniformity in the application of corporate pricing policies?
To answer these questions, we have prepared a material (which you can download for free), presenting our success story related to advanced pricing in the private education segment.
The case study addresses our client’s business problem, who had been immersed in a complex non-automated pricing system, with extensive rules to define the ideal tuition fee/scholarship for each student; the journey, marked by the structuring of the pricing process; and the results generated for the educational institution (what the client gained).
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Dynamic Pricing in the Private Education Business: Conclusion
The dynamic pricing strategy has been gaining prominence in the education sector. However, its implementation process is complex, requiring artificial intelligence as well as qualified, market-recognized data analytics providers.
Do you have any doubts about our success story of dynamic pricing in private education? Leave your comment.
Learn more about Smart Pricing, Aquarela Tactics module, and talk to our experts.
What is Aquarela Advanced Analytics?
Aquarela Analytics is Brazilian pioneering company and reference in the application of Artificial Intelligence in industry and large companies. With the Vortx platform and DCIM methodology, it serves important global customers such as Embraer (aerospace), Randon Group (automotive), Solar Br Coca-Cola (food), Hospital das Clínicas (health), NTS- Brazil (oil and gas), Votorantim (energy), among others.
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Founder – Director of International/Digital Expansion, Master in Business Information Technology at University of Twente – The Netherlands. Professor and lecturer in the area of Data Science, specialist in intelligence systems architecture and new business development for industry.