Tag: Pricing Science

What Does It Take To See Gentrification Before It Happens? | NPR

What Does It Take To See Gentrification Before It Happens? | NPR

Big data is a shorthand term for the insane amounts of information being generated by human beings in our digital world. From cellphones to credit card transactions to social media, we are all leaving digital contrails of almost all of our activity in the world. Learning how to harvest and analyze these digital traces en […]

Thousands were fleeing Harvey. This Texas hotel started nearly tripling room prices | Fort Worth Star-Telegram

Thousands were fleeing Harvey. This Texas hotel started nearly tripling room prices | Fort Worth Star-Telegram

“Because people are calling to take rooms,” the clerk said, according to KXAN, adding that “we need to (inaudible) the price. I don’t have any control on the price.” The next morning, the TV crew again confronted a hotel clerk. They got a clerk to confirm that room rates were normally around $119 a night—but […]

Farmers Insurance asks court to block state review of auto rates and a possible refund order | LA Times

Farmers Insurance asks court to block state review of auto rates and a possible refund order | LA Times

The roots of the Farmers case are quite different, but ultimately involve the issue of whether the commissioner can order a retroactive rate cut or otherwise tinker with already approved rates. The case started with a 2015 lawsuit brought by Farmers customers who alleged that the company had been illegally charging some customers more than […]

5 Things To Know Before Taking A Loan Online | Value Walk

5 Things To Know Before Taking A Loan Online | Value Walk

2. Tailored products Another way alternative lenders are setting themselves apart is by offering unique financial products. You can tailor the specifics of the loan, such as the timeline for payback and the purpose of the loan. Businesses can use everything from inventory to invoices without the need for a personal guarantee. This sort of […]

Rent-A-Center (RCII) Strategic Plans Bode Well for the Stock | Zacks.com

Rent-A-Center (RCII) Strategic Plans Bode Well for the Stock | Zacks.com

Management has undertaken initiatives to strengthen the performance of its Core U.S. segment. The company expects to reap benefits from its Flexible Labor and Sourcing & Distribution endeavors. Moreover, management has been gradually making a shift in its pricing strategy at the Core U.S. unit – from a cost-based pricing technique to a data-driven, market-responsive […]

Cab operators cash in on commuters’ misery | The Tribune India

Cab operators cash in on commuters’ misery | The Tribune India

To add to the misery of office-goers, ‘surge’ on taxi aggregators such as Ola and Uber had risen exponentially by a multiple of 3. For a distance of about 10 km, the cabs were charging an exorbitant rate of Rs 350-Rs 370 for the low-cost UberGo and Ola Mini categories in the morning. The fares […]

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism and technology: What the future holds for travel distribution | Times of Malta

Tourism service providers are increasingly focusing on incremental improvements to how consumers book and experience their product. With the changing landscape of e-commerce and the ubiquity of technological solutions, which gather, store, and analyse data, more travel businesses are monitoring their performance across channels. Very often, they are in a position to adjust their marketing […]

Predictive Analytics in Insurance | Actuarial Post

Predictive Analytics in Insurance | Actuarial Post

2 – Take a strategic approach to deployment Implementation of predictive models is arguably one of the biggest hurdles within the whole process. During this phase, the models are integrated with existing systems. The best thing to do is take a strategic approach by starting deployment with a system that will make the output easy […]

Scientific Pricing Made Easy | Twice

Scientific Pricing Made Easy | Twice

Setting retail prices can be based upon a number of factors. First, most retailers are obsessed with their competitors’ prices and can be relentless about matching them. But besides just matching the competition, there are all sorts of other ways to price, including: cost-plus, keystone and other more random methods. For example, China’s retailers like […]

Optimization Beyond Prediction: Prescriptive Price Optimization | NEC

Optimization Beyond Prediction: Prescriptive Price Optimization | NEC

This paper addresses a novel data science problem, prescriptive price optimization, which derives the optimal price strategy to maximize future profit/revenue on the basis of massive predictive formulas produced by machine learning. The prescriptive price optimization first builds sales forecast formulas of multiple products, on the basis of historical data, which reveal complex relationships between […]