Tag: Big Data

How AI Is Changing Sales | Harvard Business Review

How AI Is Changing Sales | Harvard Business Review

Companies are using AI in all kinds of innovative ways to advance their businesses. If you’ve ever searched Netflix to watch a movie, AI (a recommendation algorithm) was no doubt used in your decision about what to watch.  If you’ve shopped on Amazon, your decision about what to buy was also influenced by AI (via […]

Top Predictions For AI, Big Data, Pricing By 2025 | Retail TouchPoints

Top Predictions For AI, Big Data, Pricing By 2025 | Retail TouchPoints

Prediction #1: AI will emerge as your new shopper. The advent of digitalization has resulted in the explosion of data available to retailers — from detailed store and online transaction logs to competitive pricing data. Companies will have more data than they have traditionally been able to handle. This is the perfect storm for Artificial […]

Coin-Op 101: Power Profits with Data-Driven Pricing (Part 1) | American Coin-Op

Coin-Op 101: Power Profits with Data-Driven Pricing (Part 1) | American Coin-Op

It is also likely driven by how we develop and maintain our stores. For instance, if you provide a far better customer experience than the store down the street, you really don’t need to meet/compete or be lower. I may not have seen it that way as a relative newcomer to this business a couple […]

When Customers Are — and Aren’t — OK with Personalized Prices | Harvard Business Review

When Customers Are — and Aren’t — OK with Personalized Prices | Harvard Business Review

There’s a lot of buzz around price differentiation these days, especially with the spotlight on AI and big data.  Machine learning makes it much easier to customize the marketing of products and services – and that includes the price. Let’s be clear: price differentiation is not a new phenomenon. We encounter it regularly and, as consumers, often profit […]

Bad Data: An Enterprise-level Threat | InformationWeek

Bad Data: An Enterprise-level Threat | InformationWeek

By using tools to monitor behavior and context around data’s provenance, organizations can mitigate risks and begin to address issues that might be incentivizing deceit in the first place. Individual instances of manipulated data might have minimal impact, but a bevy of deceptions can skew business outcomes. Researchers at the University of Warwick have studied […]

Big Data in E-Commerce: Trends, Personalisation and Beyond | BBN Times

Big Data in E-Commerce: Trends, Personalisation and Beyond | BBN Times

E-Commerce, as an industry, received a jump start because of the progress made by big data engines in providing critical and focused analytics to retailers. From pricing to customer analytics to machine learning directed marketing campaigns, the solutions are bottomless. To arrive at the solution for all these challenges of online business decision making, there […]

What is low-code development? A Lego-like approach to building software | ITworld

What is low-code development? A Lego-like approach to building software | ITworld

Grabbing Slurpee sales data to go 7-Eleven turned to low-code to supply product pricing information to regional managers who visit as many as 10 stores a day. The convenience store retailer, which operates 10,000 retail locations in the U.S., constructed a field price optimization app that enables its regional managers to access pertinent sales, says […]

The price is right? Let the data answer that | Marketing Land

The price is right? Let the data answer that | Marketing Land

You don’t hear as much about using offline data and technology to determine accurate bidding. I look across the industry and still see the lion’s share of the efforts devoted toward using offline data and technology to segment audiences, while the same offline data and technology remain comparatively underutilized when it comes to optimizing bid […]

AI could become your personal shopper | VentureBeat

AI could become your personal shopper | VentureBeat

7. Setting the right price Big data tools like Incompetitor help retailers maintain a competitive pricing strategy by combining AI and machine learning. Retailers integrate this API into a brand’s data so a rule-based engine can optimize prices based on real-time external factors, like inventory, competitors’ out-of-stock situations, and discounts. This integration allows retailers to optimize […]

7 steps to unlock the value of cognitive category management | FederalNewsRadio.com

7 steps to unlock the value of cognitive category management | FederalNewsRadio.com

Cognitive category management use case How do these components integrate to provide value to the buyer and end-user? Below is a use case showing how cognitive tools could be used to enhance visibility to the process, improve the end-user experience, and enable the category strategy. 4 execs who developed, owned and managed the popular OASIS […]