Tag: Big Data

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 […]

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 […]