Businesses can get almost anything they need “as a service” these days. Platform as a service (PaaS), software as a service (SaaS), mobility as a service (MaaS). A company called Black Locus out of Carnegie Mellon University has developed a service for automated pricing optimization and revenue management solutions for online retailrs. They are calling it pricing as a service (PraaS?).
BlackLocus is attempting to deploy advanced machine learning and revenue management techniques in a cloud-based service that would give small and medium businesses the same types pricing knowledge and advantages that industry leaders like Amazon deploy. Competitive product pricing for long-tail merchants online is a difficult goal to accomplish. Black Locus attempts to take the guesswork out of the process.
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