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DEEP DATA ANALYTICS FOR PRICING

DEEP DATA ANALYTICS FOR PRICING

DEEP DATA ANALYTICS FOR PRICING: USES, ISSUES, AND SOLUTIONS

(level 300, B2B & B2C Themed)
Wednesday Workshop #7 – October 24th

Every business must continuously develop, market, and price products to survive in highly competitive, dynamic, and global markets. Many business managers, however, believe that customers, whether consumers or business customers, will buy whatever they produce. This is misguided. Products must satisfy customer needs and solve their problems – but at the right price. Identifying and understanding customers’ problems and their willingness to pay for the products that solve these problems must be driven by data. Data per se, however, do not provide great insight and knowledge. They veil or conceal what is really important for decision making: information. The veil has to be lifted. Actionable, insightful, and useful information has to be extracted from customer data and
this can only be done by deep, penetrating analysis using advanced tools and methodologies.
Deep analytics – the set of statistical, econometric, and machine learning tools and methods for extracting and revealing information hidden inside data – for product pricing is the focus of this workshop.

Attendees will learn:

  • The distinction between data and information and between poor and rich information

  • The important role Deep Data Analytics plays for pricing and messaging and the types of data needed

  • The tools and skill-sets needed to conduct and organize Deep Data Analytics

WALTER R. PACZKOWSKI, Ph .D.

Data Analytics Corp. and Rutgers University

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