Several factors play an essential role in determining the price of a product. Every step in the selling and manufacturing process is necessary. The end result of the product will determine its final price. For price optimization, the process starts with the purchase of raw material to distribution costs.

Special tools are available for analysis and aggregation of data, such as the cost from market competition, internal sources, and pricing to extract the best variants for price. Moreover, market competition and the fluctuations, changes in preferences, and needs of customers worldwide make data science a critical tool.