Category Archives: Analytics & Optimization

Analytics & Optimization AI-Enabled Personalization: A New Frontier In Dynamic Pricing

AI, personalization, dynamic pricing

Dynamic pricing, a practice started by American Airlines in the 1980s, has now become a common marketing discipline for many corporations across industry sectors. From airlines, hotels, and entertainment events to perhaps the most well-known e-retailer, Amazon, these companies have been using dynamic pricing to improve profitability relative to rapid changes in supply and demand. Personalization: Using AI to deliver optimal customer experiences, in real-time As technologies for machine learning and artificial intelligence become more advanced and the dimensions of available data expands, dynamic pricing is going beyond its traditional inventory management function enabling companies to deliver optimal customer experiences, in real-time. In essence, pricing is becoming dependent on the ability to make offers which continuously adjust to changing consumer behavior and preferences while also responding to  organizational inventory and profit requirements, as well as other external pricing influences.    Today, enterprises are able to marry rich data sets with sophisticated pricing... [Read More]

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