Dynamic pricing is a strategy used by businesses across various industries to optimize revenue, adapt to market trends, and outpace competitors. It involves adjusting prices based on real-time data and customer behavior. Companies can implement dynamic pricing in different forms such as usage-based pricing, tiered pricing, or subscription pricing with dynamic add-ons. Examples of companies that have successfully implemented dynamic pricing include airlines, Uber, Airbnb, Twilio, and Zoom. Factors influencing dynamic pricing include demand, supply, seasonality, competitor pricing, and customer behavior. A dynamic billing tool should offer real-time metering, accurate billing, flexibility in managing various pricing models, and dynamic reporting to monitor market conditions and customer behavior.