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BB-201 Calculating Price Elasticity v05

[Building Blocks] BB-201 Calculating Price Elasticity
Building Blocks (BB-201) - Calculating Price ElasticityFollows a step-by-step method to manually calculate the Price Elasticity ofDemand from the Demand Curve results generated by the Profit Engine node.This is not the recommended approach. Instead, configure the Price Sensitivitynode to calculate the impact of a Price Change to Quantity, Revenue, and Profit. The Profit Engine predictsDemand at 20 x Price Pointsbelow the Current Price, and 20 xPrice Points above the CurrentPrice. Price Elasticity uses the middlethree Price Points:(1) Left of Current Price(2) Current Price(3) Right of Current Price The Quantity / Revenue / Profitresults for all three points arerenamed and moved into asingle row. Price Elasticity is of Quantity =[ (Quantity[+1] - Quantity[-1]) / Quantity[0] ] /[ (Price[+1] - Price[-1]) / Price[0] ]ProductDefinitionsWillingness ToPay (WTP) MatrixSimulatethe MarketLeft / RightCurrent PriceSelect Adjacent Pointsto Current PriceLeft PriceRight PricePrice MetricLeftPrice MetricRightRejoin DataLeft / RightPrice Elasticityof QuantityCurrent PriceLeft / Right PricePrice Elasticityof RevenuePrice Elasticityof ProfitProductPrice ElasticityRejoin DataCurrent / Left / Right Table Creator CustomerDistributions Profit Engine ReferenceRow Filter Table Creator Row Splitter Column Rename(Regex) Column Rename(Regex) Column Appender(deprecated) Math Formula Row Splitter Math Formula Math Formula Column Filter Column Appender Building Blocks (BB-201) - Calculating Price ElasticityFollows a step-by-step method to manually calculate the Price Elasticity ofDemand from the Demand Curve results generated by the Profit Engine node.This is not the recommended approach. Instead, configure the Price Sensitivitynode to calculate the impact of a Price Change to Quantity, Revenue, and Profit. The Profit Engine predictsDemand at 20 x Price Pointsbelow the Current Price, and 20 xPrice Points above the CurrentPrice. Price Elasticity uses the middlethree Price Points:(1) Left of Current Price(2) Current Price(3) Right of Current Price The Quantity / Revenue / Profitresults for all three points arerenamed and moved into asingle row. Price Elasticity is of Quantity =[ (Quantity[+1] - Quantity[-1]) / Quantity[0] ] /[ (Price[+1] - Price[-1]) / Price[0] ]ProductDefinitionsWillingness ToPay (WTP) MatrixSimulatethe MarketLeft / RightCurrent PriceSelect Adjacent Pointsto Current PriceLeft PriceRight PricePrice MetricLeftPrice MetricRightRejoin DataLeft / RightPrice Elasticityof QuantityCurrent PriceLeft / Right PricePrice Elasticityof RevenuePrice Elasticityof ProfitProductPrice ElasticityRejoin DataCurrent / Left / RightTable Creator CustomerDistributions Profit Engine ReferenceRow Filter Table Creator Row Splitter Column Rename(Regex) Column Rename(Regex) Column Appender(deprecated) Math Formula Row Splitter Math Formula Math Formula Column Filter Column Appender

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Created by: Berlin
Created at: 2018-12-19
On NodePit since: 2021-02-05
Last update: 2024-05-01
Created with KNIME version: v4.3.0

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