This experiment demonstrates how to build a basic price elasticity model.
Price elasticity is the foundation of price optimization. This experiment uses the transaction data of a chowder store to show how to determine the price elasticity of chowder. It is the first demo experiment in the [Cortana Analytics Webinar for Retail Pricing]. **Input**: Daily price and demand of chowder. **Output**: The chowder's price elasticity. See the output port of 'Train Model'. The feature weight of 'Log_Price_Chowder' is the price elasticity. **Related Resources**: Check the video of the [Cortana Analytics Webinar for Retail Pricing] which is hosted also by Xueshan to learn the concept of price elasticity and the three steps to do price optimization. Created by a Microsoft Employee. : https://info.microsoft.com/CO-Azure-WBNR-FY16-13Oct15-CortanaAnalyticsRetailPricing-Register.html?ls=Website%20target=