With today’s customers able to access rich sources of product and service information – especially pricing data – when they are mobile, retailers are being forced to innovate in the way they capture consumers’ attention. Unfortunately, attention spans are rapidly decreasing to just the few seconds that a user spends
Tag: price optimization
It’s hard to believe that another year is over. 2015 is behind us; 2016 is ahead. As I looked back over this year, I recalled starting last year at the National Retail Federation Big Show. I presented in the SAS booth on “Optimizing Pricing Decisions.” The presentation was simple and used the concept of
Mark Kindem can thank his parents and brother for getting him started on the road to being a statistician. “My dad was a baseball card guy,” Kindem said. “I used to pore through data as a kid.” Kindem and his brother would line up baseball or basketball cards on the living
Do we ever really get pricing right? Sometimes we do, and some of those times are actually on purpose, but it takes a lot of upstream activities to go right in order for pricing to be optimal as well. Too often pricing is that last variable at our disposal when
A current media hype phrase used to describe the ever-growing volume and size of corporate information is "big data." SAS hosts an annual series of business leadership conferences that bring together industry thought leaders, innovators, world leaders, challengers and inspirational speakers to discuss the dynamics needed for a competitive future.
Hotels and airlines have traditionally optimized revenues by forecasting demand against a pre-set rate structure, and offering rates (or opening and closing fare classes) based on predicted demand levels. While inventory allocation, along with overbooking and length of stay controls, has resulted in revenue increases, executives have not always stopped