SPA Pricing Education, Analytics & Decision Making Tools Webinar Series

Tag: Big Data

Big data will change business marketing forever | Techaeris

Big data will change business marketing forever | Techaeris

OPTIMIZED PRICING Pricing services and products is a balancing act. Getting the price right in today’s hyper-competitive economy is tricky for businesses without the right tools. Big data analytics can help businesses fine-tune their pricing and even offer customized pricing on the individual level for best results. McKinsey found that minor improvements in the pricing […]

Connecting the dots: the hybrid data management arena | Information Age

Connecting the dots: the hybrid data management arena | Information Age

Is hybrid data management now a necessity? De Souza: Absolutely. If you think about applications today, whether they be in manufacturing trying to do predictive analytics on the supply chain or optimise supply chains, or whether you’re talking about fraud detection in finance or insurance, or real-time dynamic pricing – these things don’t just need […]

How Big Data Helps Companies Sale Better | BusinessZone

How Big Data Helps Companies Sale Better | BusinessZone

In 2017, every other company looks up to big data for a more profitable and efficient business process. Here’s how it has been helping them sale better: 1. Optimized Pricing Strategy According to a research conducted by McKensey, more than 25% business revenues are generated with new and innovating pricing. It might sound untrue, but […]

4 Perks of Leveraging Big Data in Marketing | Business.com

4 Perks of Leveraging Big Data in Marketing | Business.com

4 reasons to use big data for marketing and sales 1. Accurate pricing McKinsey states that a 1 percent price increase results in an 8.7 percent increase in operating profits. They also estimate that up to 30 percent of yearly pricing decisions actually fail to deliver the best price, which leads to an extensive amount […]

The Strategic Approach to Competitive Pricing Zones | RW3 Technologies

The Strategic Approach to Competitive Pricing Zones | RW3 Technologies

THE STRATEGIC APPROACH TO COMPETITIVE PRICING ZONES Expanding into a new market is a formidable challenge for any retailer. It requires a thoroughly planned-out strategy beginning with understanding your new customer demographics, market shift trends, and the competitive landscape. And success in one city or neighborhood doesn’t necessarily promise success in another one with a […]

Perception Beats Reality in Pricing | Bain & Company

Perception Beats Reality in Pricing | Bain & Company

A traditional grocer that caters mainly to higher-income customers, for instance, needs to have the whole assortment of grocery items and strong perceived quality. It would focus on very targeted moves, including key value items, promotions and signage, rather than on tactics that would significantly change the proposition, such as out-of-store advertising, price matching or […]

How retailers can improve price perception–profitably | McKinsey & Company

How retailers can improve price perception–profitably | McKinsey & Company

New methodologies, powered by big data and advanced analytics, can help retailers attract value-conscious consumers without sacrificing margins. As retail executives know all too well, most pricing decisions require a trade-off between margin and price perception. To avoid a “race to the bottom”—the self-defeating exercise of trying to beat every competitor’s price on every item—retailers […]

Understanding the role of the Chief Data Officer | C-Suite

Understanding the role of the Chief Data Officer | C-Suite

IBM recently reported that 90 per cent of all data in the world has been created in the last two years. For businesses, data related to customers, products, employees, or the wider market can provide invaluable insights that can inform strategy and drive growth. Whether that’s developing a dynamic pricing strategy, using personalised offers or […]

10 Ways Predictive Analytics Improves Innovation | InformationWeek

10 Ways Predictive Analytics Improves Innovation | InformationWeek

Predictive analytics is gaining momentum in virtually every industry. Using predictive analytics, businesses are able to approach opportunities, risks, business partners, and customers differently because they have foresight they lacked previously. “Historical data can only show you so much,” said Arvid Tchivzhel, director of revenue and pricing strategy at consulting firm Mather Economics. “If you’re […]

How to Capture the Right Value Metrics to Accurately Price Your Product | OpenView Labs

How to Capture the Right Value Metrics to Accurately Price Your Product | OpenView Labs

The best pricing metrics track how you provide value. The more value you provide, the higher the price should be. So as you instrument your system and build your data model make sure you are capturing data about the value you provide. How to do this? It starts with a deep understanding of your customer […]