Tag: Artificial Intelligence

Tariffs: Fighter Pilot Strategies Businesses Can’t Afford to Ignore | Pricing Matters

Tariffs: Fighter Pilot Strategies Businesses Can’t Afford to Ignore | Pricing Matters

Modern pricing software easily simulates the margin or revenue impact of any potential price changes so that pricing managers and leadership can decide based on expected impact as opposed to hoping for the results. Manipulating multiple spreadsheets to calculate potential price impact outcomes is not only frustrating but increases the risk of inaccuracy for every […]

AI-Enabled Personalization: The New Frontier In Dynamic Pricing | Forbes

AI-Enabled Personalization: The New Frontier In Dynamic Pricing | Forbes

Dynamic pricing, a practice started by American Airlines, a FICO customer, in the 1980s, has now become a common marketing discipline for many corporations across industry sectors. From airlines, hotels and entertainment events to perhaps the most well-known e-retailer, Amazon, these companies have been using dynamic pricing to improve profitability relative to rapid changes in […]

Behavioral Economics Powered by Machine Learning and AI Techniques | Pricing Matters

Behavioral Economics Powered by Machine Learning and AI Techniques | Pricing Matters

There is a growing focus among pricing practitioners to use price science to drive pricing decisions. It’s a fabulous trend with many recent innovations in the use of advanced techniques such as machine learning and AI. It is important however to consider behavioral economics because our economic decision making is often shockingly irrational. Naturally, we […]

Can Tariffs Disrupt Your Pricing Strategy? Short answer: YES! | Paul Greifenberger

Can Tariffs Disrupt Your Pricing Strategy? Short answer: YES! | Paul Greifenberger

Commodity market fluctuations that whipsaw product margins are a persistent downstream pricing challenge. Should you take price now, incrementally, or eat the cost change? What will your competitors do? How many times can you change customer pricing this year? Get it right or you risk locking your margins into that corporate “unhappy place.” If you’ve […]

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

Pricing: Does Fortune Favor the Bold or the Prepared? | Paul Greifenberger

With every sales bid, there are new data that can be used to improve pricing. Yet, much of this potential remains untapped. Why? Because data gaps and uncontrolled sales cycle data variables are significant roadblocks. Find out how Vistaar’s leading edge pricing practices and price science techniques can help you overcome the roadblocks. It’s worth the effort because […]

AI, Machine Learning & Modern Manufacturing Productivity | EBN

AI, Machine Learning & Modern Manufacturing Productivity | EBN

Forecasting demand Piggybacking off operations, predictive analytics and AI will save manufacturers a great deal of time when forecasting demand for new machinery and parts. Excel spreadsheets may have been the way of yesteryear for handling inventory and managing distribution. But now, thanks to predictive analytics and machine learning, these tasks have never been more […]

Machine Learning—a “Next Level” Pricing Element | Paul Greifenberger

Machine Learning—a “Next Level” Pricing Element | Paul Greifenberger

For a pricing strategy to be truly successful, it must be a “win-win-win” for sales, marketing, and finance. This calls for a revenue and margin balancing act consistently performed over time. Vistaar’s SmartQuote  pricing software enables pricing strategies and tactics to efficiently and rapidly adapt as market conditions change. SmartQuote is powered by advanced machine learning techniques […]

51 Artificial Intelligence (AI) Predictions for 2018 | Forbes

51 Artificial Intelligence (AI) Predictions for 2018 | Forbes

AI will begin answering the question “Why?” Two things we’ve learned watching early adopters interact with AI systems over the last couple of years are: 1) Humans are not good at not knowing what an AI is doing, and 2) AI is not good at telling humans what it’s doing. This leaves users frustrated wondering […]