NetPrism is a pioneering e-commerce company whose mission is to empower individuals and businesses with web intelligence. Their features include their NetPrism API, which is an AI-powered, cloud-based SaaS solution for web data collection, analysis, and predictions, as well as Restock Alerts, which revolutionizes the online shopping experience by providing intelligence on when products come back in stock, and other updates. They are a dynamic and innovative startup enterprise engaged in numerous significant projects poised for future success.
Our price prediction model addresses the common problem of uncertainty in determining the best time to purchase a product. To solve this issue, we developed a Machine Learning model that leverages thousands of historical price data points to accurately predict the price of a product in the next two weeks. Our model provides graphical price predictions that enable individuals to make informed purchasing decisions, leading to more effective allocation of resources. By utilizing our Price Prediction Model, individuals can avoid overspending, and optimize their purchasing decisions. Our project demonstrates the utility of data analytics in bettering everyday finances.
How might we empower users of NetPrism so that they may make informed decisions of when to buy a product online?
The user personas we identified represented people who had pain points around budgeting their money wisely. Below are two examples of users who would benefit from our solution, as they experience pain points around smart allocation of money, looking for deals on purchases, and more. Wendell, the NetPrism CEO, is also included below. As the owner of NetPrism, he is a stakeholder in this project in that he will be using our solution as part of his company's development.
Mileena Velasquez, College Student
Mary Hawkins, Full Stack Developer
Wendell Li, NetPrism CEO
Mileena is a Senior at the UW Seattle campus studying Biology. She finds herself juggling her time between school, work, and her research. Due to her busy schedule, she finds herself primarily shopping online, but she's always looking for a deal so she can stay within her monthly budget. Her pain point revolves around budgeting and ensuring she gets the best deal online for school supplies. She saved for months to buy a new laptop only for it to unexpectedly go up in price the month she planned to buy it.
Mary is a Single mother from Texas. She works from home as a full stack developer for a tech start-up. When she's not working, she takes care of her 2 year old daughter. Due to her busy schedule, she is often shopping online for everything from groceries, to children's toys, to smart appliances. She finds herself overspending on smart appliances, when the same appliances' prices drop in the next few weeks. She'd like a solution that would help her make more informed purchasing decisions when shopping online.
Wendell owns NetPrism. Wendell has a passion for helping NetPrism's users and future consumers know when to buy their products. He is excited about leveraging the power of data to help consumers make educated decisions with their hard earned money.
| January 2023 | February 2023 | March 2023 | April 2023 | May 2023 |
| Defined problem space, conducted research into ML Models and data processing | Began using historical Amazon data to create ML model. Conducted user research on front-end | Created final Amazon price prediction model with front end mockup. Model was 90% accurate. | Gathered requirements for transition to a retailer agnostic model. Refined front end through user testing. | Presented final retailer agnostic LSTM Model. |
GitHub containing model development here
Figma file containing multiple design iterations here
The Price Prediction Model project will be continued by the project sponsor, NetPrism. The new project owner will be Wendell Li, who can be contacted through wendell@netprism.com. The Information Innovators team will no longer be working on development for the Price Prediction Model project.