Using Azure to optimize pricing strategies for car parts sales

Question

A car company wants to optimize the pricing strategy for their vehicle spare parts using Azure tools. How can Azure machine learning or other available Azure tools be used to find an ideal price that increases profitability while retaining clients and not losing deals? The current pricing decisions are made based on gut feelings, not data-based solutions. The sales managers are looking to combine certain price elements to create optimal pricing strategies.

Answer 1

@Shahar Spencer If you are looking for high level guidance on using Azure ML, you should start looking at Azure Machine Learning's automl which can provide prediction capabilities for prices, provided you provide minimal data to train your model. This blog provides you a similar working for stock price prediction and this can be adopted for any scenario. I hope this helps!!