Using Mailchimp Merge Tags for Dynamic Data

I received the following email request for Mailchimp help from a client and thought I’d share the solution:

Hi Gary,
Can you please help me with the following?
I need to design a mail which shows dynamic data (that changes daily) in a tabular form as my quote offer for daily pricing & send it to different user groups.
How do I go about inserting such a table & dynamic data?

There are many organizations that need to send daily pricing information to clients. These organizations include stockbrokers, mining companies, currency traders, commodity traders and others.

To add data that will change daily and be sent in an email marketing campaign is best performed as follows:

1. In your Mailchimp list, create a new field. Before sending the campaign each day, update the field with the dynamic data (e.g. price).
2. Design and create the campaign that will be sent. Include the merge tag for the field as created above; this will insert the value of the field in your Mailchimp list when the email campaign is sent.

Your campaign is now configured to send the dynamic price value to recipients.