McDonald’s plan to put “supersized” data to action

Posted by Alex on April 17, 2019

McDonald’s recent acquisition of the Tel Aviv-based AI startup, Dynamic Yield, is an exciting move, demonstrating that the 63-year old fast-food chain is looking for ways to stay competitive. Like many large enterprises, McDonald’s has long recognized the value in data, collecting large amounts of data on everything from tractions to customer behavior. However, data is only as valuable as what you can do with it. The acquisition of this new machine learning and AI technology demonstrates the company’s intent to put customer data to work.

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PODCAST: Dynamic Pricing's Real-World Applications

Posted by Alex on April 11, 2019

As pricing technology becomes more and more sophisticated, incorporating complex data analysis and using AI and Machine learning to optimize and deploy pricing, we’re seeing a wider acceptance of Dynamic Pricing.

Industries like airlines, hospitality, and ride-sharing have led advances in dynamic pricing, but other industries are now opening up to the possibilities. Both B2C and B2B companies are looking at incorporating Dynamic pricing into their strategies. We’ll talk about less obvious industry examples like Vail Resorts’ dynamic ticket pricing, and Lyft’s B2B strategy.

True Dynamic Pricing goes hand in hand with AI, as the real-time analysis and automated deployment of prices go beyond the physical capabilities of a pricing team. Whether pricing is being adjusted hour-to-hour or only week-to-week, AI can simulate and predict demand to optimize pricing for changing market conditions.

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Using a backtest to choose Dynamic Pricing software

Posted by Alex on January 18, 2019

Dynamic Pricing software takes data and turns it into actionable real-time prices. At Perfect Price, we've learned a lot about how executives assess and decide on using our software. We think this process could work well for evaluating any software that an enterprise is trusting to make decisions on its behalf.

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What you don't know about Netflix's price increase

Posted by Alex on January 17, 2019

Netflix raised prices $2 yesterday, and as a direct result, their shares added 6.5%. As a CEO, CFO, or controlling shareholder, wouldn't it be nice to do the same thing? Add $2 to prices and add $9.5 billion to your market capitalization? Move over Warren, I get the cover shot on Barron's this month. 

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Interviewed by Magnus Unemyr

Posted by Alex on March 19, 2018

A digital marketing leader in Europe, Magnus and I did a quick interview about dynamic pricing, AI and what it means to marketers. We also talked a bit about how people use Perfect Price.

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Artificial intelligence is "steroids for business"

Posted by Alex on October 3, 2017

After interviewing key industry CEOs, Jim Kramer of Mad Money thinks that AI is "like steroids for businesses". Here's 2 simple reasons why he's right.

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The First Artificial Intelligence Partnership in Car Rental

Posted by Alex on June 16, 2017

We're delighted to announce a new partnership with Rate Highway, a leader in pricing automation, to bring artificial intelligence (AI) to the car rental industry. 

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Automate with AI and grow your team

Posted by Alex on May 3, 2017

A popular misconception about artificial intelligence (AI) is that it will replace humans. Just like machines on the factory floor, these robots-in-the-cloud will do the jobs of everyday people. While it now seems clear that manufacturing robots do eliminate human jobs, the same is not true for AI. In fact, quite the opposite.

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What launching rockets can teach us about revenue management

Posted by Alex on April 25, 2017

Would you promise to send a rocket to Jupiter before you proved you could get one into space at all?

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