AI for Value Based Pricing
| Reference number | |
| Coordinator | Price Edge Solutions AB |
| Funding from Vinnova | SEK 982 840 |
| Project duration | April 2019 - December 2020 |
| Status | Completed |
Purpose and goal
The overall goal of the project is to develop a prototype (MVP) of a cloud-based AI service for value-based pricing in manufacturing companies. By applying AI, this new product will be able to enable value-based pricing for small and medium-sized companies, as the product will replace the heavy analysis work typically required in the introduction of value-based pricing. The project has successfully built an initial prototype (MVP) that achieves the goal and will in 2021 be further developed and tested with beta customers.
Expected results and effects
The company has successfully built a prototype with a web-based user interface with an associated AI engine that allows users to segment, visualize, and automatically price spare parts and similar products. PriceEdge has also managed to test the current MVP with several potential customers in Europe during the process of developing the prototype (MVP).
Planned approach and implementation
The work of developing the prototype is based on an interactive project model and can be summarized in four steps (Work packages); WP1: needs and opportunity analysis (design), WP2: development of mock-up, WP3: validation of mock-up/design, and WP4: construction of the prototype.