A Dynamic Pricing Mechanism Model Based on Sentiments Analysis

摘要

Nowadays we can see tides of sentiments flooding on social media on any topics you can think of. Companies from industries like Hospitality, Advertisement, Retail etc. To classify, aggregate and use these sentiments so as to predict sentimental analysis which can be used for the revenue growth. By keeping track of the changes in sentiments towards a particular product, companies that have dynamic pricing mechanisms which take advantage of the fluctuations in customers' interest and demand. This paper is based on [1] and focuses on economic aspects related to Big Data, which implements the proposed Dynamic Pricing Mechanism Model to take into account sentiment analysis as the major factor. Results show that there is a significant increase in revenue generation using the proposed dynamic pricing model comparing to the existing dynamic pricing model.