In today’s fast-paced world, rapidly evolving data and software driven strategies are imperative to creating sustained commercial pricing success. Good processes and experienced personnel alone are no longer enough. It is nearly impossible to rely on spreadsheets, custom software tools, and empirical observation to properly manage the complexity of becoming a “data-driven” pricing organization. That’s why it’s more important than ever to not only understand what Artificial Intelligence (AI) and machine learning are but also to learn how to use them for tangible value in data-driven pricing.
AI is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans.1 Essentially, AI is the ability of a machine or computer to think, learn and act. According to Forbes Technology Council, machine learning is a branch of AI and is based on developing machines to process data and learn on their own, without constant human supervision. Machine learning algorithms supplement empirical data to help tackle the challenges pricing teams encounter on the road to creating sustained success.
Pricing teams face the challenge of sorting through data with numerous variables such as frequently fluctuating material costs, tariffs, local competitive behavior, agreement constraints, and much more. Compounding the challenge of manipulating massive amounts of data are ever-evolving market landscapes and shifting customer priorities that directly impact pricing models. Modern pricing software solutions, powered by advanced algorithms and machine learning techniques, enable businesses to constantly analyze data on an unparalleled scale, make optimal pricing changes in real-time based on data, and evolve with changing markets as well as shifting customer priorities.
Please join Vistaar’s Director of Product Management, Dushyant Zutshi, in a new #PricingWebinar titled, “Machine Learning & Data: The Latest Pricing Opportunity” to learn more in a sneak peek of PPS Fall 2018 session content. Dushyant will discuss how advanced algorithms and machine learning techniques drive intelligent pricing and sales strategies for success in the data-driven world.
Attendees Will Learn:
- Why machines learning from data is a pricing opportunity;
- How applying advanced algorithms and machine learning techniques to your pricing and sales strategies can breed success; and
- How to tackle change management when moving from a traditional organizational sales process to data-driven decision making.
Click here to register for the webinar.
About the Speaker:
Dushyant Zutshi is Director of Product Management at Vistaar Technologies. He has a deep technology background and leads the product roadmap for strategic product lines at Vistaar. Dushyant has 20+ years of experience in developing technology as well as using technology to create business value. He works closely with Global 2000 customers regarding how to best leverage technology solutions that drive pricing transformations. He has a bachelor’s degree in Computer Science from Birla Institute of Technology (BIT), and an executive MBA, from Indian Institute of Management (IIM).
For more information, attend Dushyant’s presentation, “Machines Are Learning from Data: It’s a Pricing Opportunity,” at the Professional Pricing Society’s Fall Conference in Dallas on Friday, October 26 at 1:00 pm. Or visit Vistaar at Booth #105 during #PPSDALLAS18 on October 25-26th.
This article was authored by:
Kelly Capizzi, Associate Director, Marketing
Graduate from Millersville University of Pennsylvania