Price Elasticty Demand

Question & Answer
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1

Hello, I need some advice. I’m unsure which functions in QuickSight to use for calculating price elasticity and price inelasticity. Here’s the metadata I have:

  • Date
  • ASIN
  • Shipped Revenue
  • Shipped COGS
  • Shipped Units
  • Customer Returns

I’m familiar with the mathematical formula for calculating Price Elasticity of Demand (PED), which is:

PED = ( %ΔQd )/( %ΔP )

where:

  • %Δ in Qd = Percentage change in quantity
  • %Δ in P = Percentage change in price

Could you please help me with the formula or functions in QuickSight to achieve this?

2

Hello @Vamsi_Prasad,

I am not familiar with the Price Elasticity, but for the calculation as you describe it, I think the Period Over Period computation could work.

periodOverPeriodPercentDifference(sum({Quantity}), {Order Date}, DAY, 1)

Hope this helps.

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3

Hi @Vamsi_Prasad,
It’s been awhile since we last heard from you; did you have any additional questions regarding your initial topic?

If we do not hear back within the next 3 business days, I’ll go ahead and close out this topic.

Thank you!

4

Hi @Vamsi_Prasad,
Since we haven’t heard back, I’ll go ahead and close out this topic. However, if you have any additional questions, feel free to create a new post in the community and link this discussion for any relevant information that may be needed.

Thank you!