Machine Learning Contract Jobs in Northbrook, IL

Who We Are: 

At Radwell, we’ve been shaping a brighter future for industry for over 45 years. As a global leader in Automation, MRO (Maintenance, Repair, and Operations) and Electrical solutions, we’re committed to providing top-notch services to our customers. We help customers maximize their uptime and performance, supplying new and pre-owned parts, including obsolete and hard-to-find items. Additionally, our sophisticated repair technicians can repair customers’ parts and get those back into production quickly. Radwell is a global business with locations throughout the United States, Canada, Mexico, and Europe. Come challenge yourself and be a part of our rapid growth story. 

The position is full-time and will be based at our Chicago-area location in Downers Grove, IL. 

We are seeking a highly analytical and results-driven Pricing Analyst to join our team. In this role, you will be responsible for leveraging data science, advanced analytics, and machine learning techniques to develop and optimize pricing strategies that maximize profitability, improve market competitiveness, and align with business objectives. The ideal candidate will have a strong background in statistical modeling, economics, and pricing optimization, and be able to communicate complex findings to non-technical stakeholders. 

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Pricing Strategy and Optimization: Design and implement data-driven pricing strategies that align with the company's revenue and profit goals, taking into account market conditions, customer behavior, and competitor pricing. Build in-house price optimization engine applying machine learning and optimization techniques to determine optimal pricing and discounting strategies for products and services. 

• Data Analysis & Insights: Analyze large (sometimes messy and incomplete) datasets, including sales, customer, and market data, to uncover insights and trends that can inform pricing decisions. Build and maintain pricing models to forecast demand elasticity, optimize price points, and identify opportunities for margin improvement.  

• Competitive Intelligence: Monitor competitor pricing, market trends, and industry benchmarks to inform pricing models and strategy. Provide recommendations based on competitive analysis and customer segmentation. 

• Collaboration: Work closely with cross-functional teams such as Marketing, Product, and Finance to ensure pricing strategies are aligned with overall business objectives and market positioning. 

• Reporting & Presentation: Prepare and present pricing analysis, insights, and recommendations to senior management and key stakeholders, ensuring that data-driven decisions are easily understood and actionable. 

• Continuous Improvement: Stay current with developments in data science, machine learning, and pricing methodologies. Continuously assess the performance of pricing strategies and iterate based on feedback and market conditions. 

QUALIFICATIONS

EDUCATION & EXPERIENCE 

• Bachelor's degree in Economics, Statistics, Mathematics, Data Science, Business, or a related field (Master's or Ph.D. is a plus). 

• 1+ years of experience in analytics, pricing science, revenue management, or a similar analytical role. 

• Proven experience with pricing models, pricing optimization techniques, and demand forecasting. 

• Familiarity with machine learning, regression models, and statistical analysis in the context of pricing. 

KNOWLEDGE & SKILLS REQUIRED 

• Strong proficiency in data analysis tools and languages (e.g., SQL, Python, R, Excel, etc.). 

• Solid understanding of pricing strategies, elasticity, segmentation, and competitive analysis. 

• Ability to interpret complex data and translate it into actionable pricing recommendations. 

• Strong problem-solving skills and a creative, data-driven mindset. 

• Excellent communication and presentation skills, with the ability to explain technical findings to non-technical stakeholders. 

WORK SCHEDULE

This is an exempt position, which requires a work schedule that will achieve the results and objectives identified by the company.  Generally, the schedule for this position will be 8:00am-5:00pm, Monday through Friday, with one hour for lunch.  Employee is expected to come to work on time and adhere to accepted time-off policies.

WORK ENVIRONMENT

Dress attire is casual but professional in an office setting.  All employees are encouraged to wear “Radwear” (shirt with company logo) once the initial supply (at company expense) has been received. Radwell ID Badge and Access card must be always worn.  Radwell Safety Policies must be adhered to at all times.

EMPLOYER'S RIGHTS

This job description does not list all the duties of the job.  You may be asked by supervisors or managers to perform other duties.  You will be evaluated in part based upon your performance of the tasks listed in this job description.  The employer has the right to revise this job description at any time.  The job description is not a contract for employment and either you or the employer may terminate employment at any time, for any reason.

Radwell Benefits

Benefits: Radwell offers a comprehensive benefits package including health, dental, and vision coverage. The Company provides company sponsored short-term and long-term disability benefits, as well as $50,000 in Life insurance. These benefits, along with additional voluntary benefits, are available to all regular full-time employees beginning on first day of employment. All employees are automatically enrolled at 3% into the Company’s 401(k) Plan on the first of the month following 90 days of continuous employment.  Employees are eligible for common paid Company Holidays and 15 days of PTO annually, which begin accruing on first date of employment and may be used immediately upon joining the team.  

Salary Information:

The recruiting base salary range for this FULL TIME position is $80,000-105,000/year. Within the range, individual pay is determined by factors, including job-related skills, experience, and relevant education or training. Additionally, this role is bonus-eligible, with a target bonus percentage that provides an opportunity to earn even more based on company performance.