Optimizing Retail Discounts with Machine Learning

In this paper, we show how to apply machine learning to pricing and discounts. The goal is to create the optimal discounting strategy, which results in maximizing the total retail income. To do this, we use machine learning to predict sales based on given combination of discounts, and then we formulate and solve a mathematical model that allows combining the discounts to achieve the desired maximum outcome. We also outline the reference architecture for this implementation. The architecture includes open

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