Dynamic Project Development Pricing with Python

Introduction:

In the realm of project development, accurate pricing is crucial for ensuring profitability and
competitiveness. This project aims to develop a dynamic pricing model using Python, leveraging various
data visualization techniques to analyze datasets and derive insights for effective pricing strategies.

Objectives:

 Develop a Python-based dynamic pricing model for project development.

 Utilize data visualization techniques to explore and understand the dataset.
 Implement univariate, bivariate, and multivariate visualizations to identify patterns and
relationships in the data.
 Create interactive visualizations for enhanced exploration and analysis.
 Draw conclusions and insights to inform pricing decisions in project development scenarios.

Dataset Description:

The dataset comprises historical data on project development, including factors such as project scope,
duration, resources utilized, and associated costs. Additionally, it may include market trends, competitor
pricing, and other relevant variables affecting project pricing.

Data Visualization Techniques:

Univariate Visualization:

Histograms: Displaying the distribution of individual variables such as project duration or cost.

Kernel Density Estimation (KDE): Estimating the probability density function of variables.

Box plots: Illustrating the summary statistics of numerical data.

Code:

import pandas as pd

import matplotlib.pyplot as plt

import seaborn as sns

data = pd.DataFrame({

'project_id': [1, 2, 3, 4, 5],

'project_duration': [30, 45, 60, 25, 50],

'project_cost': [10000, 15000, 20000, 8000, 18000]

})

plt.figure(figsize=(8, 6))

sns.histplot(data['project_duration'], kde=True, color='skyblue')

plt.title('Histogram of Project Duration')

plt.xlabel('Duration (days)')

plt.ylabel('Frequency')

plt.grid(True)

plt.show()

output:

Bivariate Visualization:

Scatter plots: Exploring relationships between two variables, such as project duration and cost.

Line plots: Analyzing trends over time, such as changes in project costs.

Heatmaps: Visualizing correlations between variables in the dataset.

Code:

import pandas as pd
import matplotlib.pyplot as plt

import seaborn as sns

data = pd.DataFrame({

'project_id': [1, 2, 3, 4, 5],

'project_duration': [30, 45, 60, 25, 50],

'project_cost': [10000, 15000, 20000, 8000, 18000]

})

plt.figure(figsize=(8, 6))

sns.scatterplot(x='project_duration', y='project_cost', data=data, color='coral')

plt.title('Scatter Plot of Project Duration vs Cost')

plt.xlabel('Duration (days)')

plt.ylabel('Cost ($)')

plt.grid(True)

plt.show()

output:

Multivariate Visualizations:
Pair plots: Displaying pairwise relationships between multiple variables.

3D Scatter plots: Visualizing relationships among three variables simultaneously.

Parallel coordinates: Representing multivariate data points in a high-dimensional space.

Code:

import pandas as pd

import seaborn as sns

data = pd.DataFrame({

'project_id': [1, 2, 3, 4, 5],

'project_duration': [30, 45, 60, 25, 50],

'project_cost': [10000, 15000, 20000, 8000, 18000]

})

sns.pairplot(data=data.drop('project_id', axis=1))

plt.suptitle('Pair Plot of Project Variables', y=1.02)

plt.show()

output:

Interactive Visualizations:

Interactive scatter plots with tooltips: Providing additional information upon hovering over data points.

Interactive line plots with sliders: Allowing users to adjust parameters and observe real-time changes.
Interactive heatmaps with selectable variables: Enabling users to explore correlations dynamically.

Code:

import pandas as pd

import plotly.express as px

data = pd.DataFrame({

'project_id': [1, 2, 3, 4, 5],

'project_duration': [30, 45, 60, 25, 50],

'project_cost': [10000, 15000, 20000, 8000, 18000]

})

fig = px.scatter(data, x='project_duration', y='project_cost', hover_name='project_id', title='Interactive

Scatter Plot of Project Duration vs Cost')

fig.update_layout(xaxis_title='Duration (days)', yaxis_title='Cost ($)')

fig.show()

output:

sample code for interactive dashboard using dash:

code:

import dash

import dash_core_components as dcc

import dash_html_components as html

from dash.dependencies import Input, Output

app = dash.Dash(__name__)

app.layout = html.Div([

html.H1("Interactive Dashboard"),

html.Label("Select a number:"),

dcc.Input(id='input-number', type='number', value=5),

html.Div(id='output-text'),

dcc.Graph(id='output-plot')

])

@app.callback(

Output('output-text', 'children'),

[Input('input-number', 'value')]

def update_text_output(input_number):

return f"You entered: {input_number}"

@app.callback(

Output('output-plot', 'figure'),

[Input('input-number', 'value')]

def update_plot(input_number):

x_values = list(range(input_number))

y_values = [x ** 2 for x in x_values]

return

'data': [{

'x': x_values,

'y': y_values,

'type': 'bar'
 }],

'layout': {

'title': 'Square of Numbers'

if __name__ == '__main__':

app.run_server(debug=True)

output:

Assumed Scenario:

Imagine a project development company seeking to optimize its pricing strategy for various projects. By
analyzing historical data and market trends using Python-based data visualization techniques, the
company aims to dynamically adjust pricing based on project characteristics, resource utilization, and
market demand.

Conclusion:

In conclusion, this project demonstrates the effectiveness of Python-based data visualization techniques
in developing a dynamic pricing model for project development. By visualizing and analyzing historical
data, the company can gain valuable insights into factors influencing project pricing and make informed
decisions to remain competitive and profitable in the market.