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What is On-the-fly pricing

The technology boom is surging, and machine learning is the core way that businesses are taking this once new technique and turning it into something amazing.

On the fly pricing or dynamic pricing, is another feature found in the world of machine learning. In the old days, we had to offer everyone a flat rate. This takes the cross-selling aspect to a brand new level. Now, not only can you offer the right product at the right time, but you can offer it at the right price based on your user.

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Airbnb is a great example of this type of machine learning, and it’s carrying over to airlines and ride-sharing services like Uber. The artificial intelligence built into Uber’s program analyzes each person, their route, other routes in the area and how they can offer their customers amazing deals that will keep them coming back for more.

The pricing structure can change depending on a variety of factors, including location, time, customer frequency and more. You can apply this type of pricing structure to your product through machine learning and build a business that really caters to every customer’s needs.

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