Application of machine learning methods in pricing

The mechanism of Machine learning and its use in the field of pricing are investigated. The analysis of research in the field of machine learning and the application of machine learning in pricing, in particular, is carried out. The principles of operation of various machine learning methods, distinctive features of the methods and their scope of application are considered. The characteristics of various machine learning methods are given. It is shown how to choose the most appropriate machine learning method for performing the task on the example of pricing on the example of the household appliances market. In this paper, the most promising models for determining prices using machine learning are considered and an algorithm for using a machine learning tool in pricing is presented.