MTD Water
Dynamic pricing model
MTD Water MTD Water provides temporary water infrastructure for events, exhibitions and industry. Their clients range from small local events to large-scale organizations such as the Winter Olympics in Canada.
The challenge
MTD’s ambition is to develop a dynamic pricing model that calculates an optimal price based on event characteristics and MTD’s expected available capacity on a given date. This will allow a more accurate response to predicted supply and demand during pricing discussions with clients.
What we did
MTD’s ambition consists of several segments, the first step being to create a dynamic overview of upcoming events using a web scraper. After this, the capacity that an event needs could be predicted, with then a calculation to calculate the dynamic price. The research question with which the SME Datalab set to work was thus: To what extent can an overview of future events in the Netherlands and the UK be made by developing a web scraper?
The result
A web scraping tool was delivered that automatically collects the expected date and characteristics of events in the Netherlands. It does this in part through an integration of a 3rd party Google Search API. A web scraper could not be built for events in England due to a shortage of good English websites with event listings. The exact reasons behind this, and how to overcome this challenge, are summarized in a clear way in a report. Follow-up steps toward predicting the capacity that an event will absorb have been defined. We immediately started working on this in a follow-up project.
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Why collaborate with JADS MKB Datalab?
The JADS MKB Datalab supports Dutch SMEs that want to make the transition to a more data-driven way of working. The JADS MKB Datalab carries out projects with SME entrepreneurs and Data Science students. In addition, they offer several tools to help you define a Data Science project with impact, such as workshops, a Data Maturity Scan and a Data Project Canvas.
So, if you want to take on a specifically designed short-term data science project for your SME with a JADS MSc student, visit the JADS MKB Datalab Website. 150 SMEs have already participated!