Inspiration
Some Bars often get too overcrowded while some are not that busy. We want to give the not-busy bars an opportunity to temporarily lower drink prices to attract customers, while the busy bars can increase prices to increase the revenue generated.
What it does
It uses an algorithm that constantly updates prices of drinks to reach an equilibrium level. We display these prices on the our web app, and on the screens in the bar, so consumers can make cost effective decisions about the bar they want to go to at that time.
How we built it
Ionic agularjs firebase
Challenges we ran into
Algorithm to take min max prices for the bars and figures out via machine learning the most optimum price for maximum bar profit and cheap drinks for the user.
Accomplishments that we're proud of
Figured out the algorithm. Finished a prototype application.
What we learned
We learnt how to think and leanr fast.
What's next for Bar Ticker
We plan to incorporate machine learning algorithms, so the system is able to predict demand ahead of time and adjust prices accordingly.
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