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Tag: Big Data

Decision Automation: How AI Helps Companies Move From Analytics To Action | Forbes

Decision Automation: How AI Helps Companies Move From Analytics To Action | Forbes

Forward-thinking CEOs have embraced business intelligence tools and big data, and many are considering how they can utilize artificial intelligence (AI) and predictive analytics. But analysis alone doesn’t always go far enough. To catch up to industry leaders like Amazon, Netflix, Google and others, I believe executives need to think beyond analytics and move toward […]

Big Ideas: “AI-powered dynamic pricing that shifts in real-time to changes in supply and demand” with Alex Shartsis CEO of Perfect Price | Thrive Global

Big Ideas: “AI-powered dynamic pricing that shifts in real-time to changes in supply and demand” with Alex Shartsis CEO of Perfect Price | Thrive Global

The world’s most successful companies (Uber, Amazon, Airbnb, and many others) already use dynamic pricing to predict changes in supply and demand, optimizing prices in real-time to maximize revenue. Consumers are already familiar with dynamic pricing: Uber rides, flights, hotels, and even Disneyworld tickets are all examples. The benefits of AI and Dynamic pricing are […]

Use of personal data to ‘rip off’ online shoppers sparks inquiry | The Guardian

Use of personal data to ‘rip off’ online shoppers sparks inquiry | The Guardian

The government is launching an inquiry into the use of personal data to set individual prices for holidays, cars and household goods, amid rising fears of a consumer rip-off. The research, supported by the competition watchdog, will explore the prevalence of “dynamic pricing” based on information gathered about an individual, such as location, marital status, […]

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 […]