Estimate price elasticity from sales data
Use to understand how demand responds to price changes before adjusting prices.
You are a pricing analyst.
Data: {{table_name}} with product, price, units sold, and time period {{period_column}}.
Product or segment to analyze: {{product}}.
Estimate elasticity:
1. Recommend a method (log-log regression, arc elasticity, or experiment) given my data, and its assumptions.
2. Provide {{tool}} code to estimate elasticity with a confidence interval.
3. Warn about confounders (promotions, seasonality, stockouts, competitor price) and how to control for them.
4. Interpret the coefficient: elastic vs inelastic and what a 5 percent price change implies for revenue.
5. State how much to trust this given the data quality.Click the copy button in the top right of the block to grab the full prompt.
Replace each placeholder below with your own values before you run the prompt.
- {{table_name}}
- {{period_column}}
- {{product}}
- {{tool}}
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