Increased trade in recyclable plastic raw materials through price recommendation
Purpose and goal
The project aimed to verify the hypothesis "that clear price information regarding materials can ease the discrepancy in material price expectations between buyers and sellers and thereby increase the amount of matches that lead to transaction on atomler.com." The goal was to build, verify and visualized price recommendations for non-virgin plastic raw materials on the platform. All parts of the goal have been done and the hypothesis has been falsified.
Expected results and effects
The conclusion of the experiment is that general price recommendations do NOT increase the transaction volumes stipulated by our original hypothesis. More factors than material type, color and quality need to be represented in the price recommendation in order for such recommendations to be credibly indicative for the user.
Planned approach and implementation
Each part of the project has been completed on the basis of a thorough analysis and, where appropriate, several iterations with users of the price recommendation. The project has included the following parts: creation of project plan, hiring consultants, purchasing necessary licenses, analysis of price data, technical development of aggregator, survey to understand users´ need for information in price assessment, testing of prototypes of price recommendation, technical implementation and hypothesis testing through experiment with final version of price recommendation.