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Category Archives: Economics

How Big Data is Changing Retail Experiences

The data shown here gives brick and mortar retailers a good reason to step up their game. Infographic: programming.oreilly.com

For years, companies with online shopping sites have had the luxury of tracking customers to optimize user experience and make profitable business decisions. ¬†However with the huge boom of e-commerce and online shopping, until recently, these techniques were used minimally at the physical store level. This past July, the New York Times published an article …

Can Variable Pricing Models Work for Tech Startups?

Most people are familiar with the way that hotel and airline pricing models work, in that during times of higher travel the costs increase due to demand. This is one type of variable payment model, known as time-based pricing, which has been successfully used for years. But with so much success in the travel industry, …

Do Pay What You Want Models Work?

How much would you pay for a cup of chili? Some Panera stores were letting the customer decide. They began implementing a “pay what you want” pricing model – a relatively new concept that many different industries are using to attract customers. They work by letting customers decide how much they want to pay for …

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