Dynamic pricing for increased profitability and capacity utilization
Developed fully automated solution for pricing rental units based on market data and data-driven models.
Key deliverables
Proof-of-concept with data collection and simple model
Technical and business validation of the concept with first pricing prototype
Fully automated pipeline with daily market data and model training
Complete automated system that fetches market data and updates pricing models daily
User-friendly web application for pricing
Intuitive web solution that gives managers easy access to pricing suggestions and decision support
Project goal
Bjerke Eiendom wanted to see how data-driven methods could provide more precise pricing for rental units. The goal was to develop a system that both ensures the highest possible rental income while reducing vacancy in the portfolio. The solution needed to be easy to use in the managers' daily work.
Work process
The project started with a feasibility study and proof-of-concept to test technical and business viability. After positive results, the team proceeded to full development and implementation in close dialogue with the managers.
Startup
Week 1
Mapping of current pricing practices and needs.
Proof-of-concept
Week 1-2
Data collection, modeling and first price proposal.
Solution development
Week 3-6
Building fully automated pipeline and web application.
Implementation and training
Week 7
Training managers and preparing for daily use.
Startup
Proof-of-concept
Solution development
Implementation and training
Week 1
Week 1-2
Week 3-6
Week 7
Mapping of current pricing practices and needs.
Data collection, modeling and first price proposal.
Building fully automated pipeline and web application.
Training managers and preparing for daily use.
Results and deliverables
The solution provides daily pricing suggestions based on fresh market data, provides better decision support for managers, and forms the basis for further analysis work.
See how easy it is—create a draft in minutes.