AI solutions are finding their way into more and more industries. Retailers are also investing in artificial intelligence (AI), because it allows them to simplify and accelerate their processes. Last year, the German Retail Association (HDE)…
https://prudsys.de/wp-content/uploads/ki-am-pos-3.png6281200Mr Personalizationhttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMr Personalization2021-09-07 09:26:142021-09-08 10:47:45AI at the Point of Sale: Avoid Losses with Fraud Detection, Minimize Markdowns with Markdown Pricing and Strengthen Customer Loyalty with Smart Incentives
Dr. Michael Thess - mathematician, visionary and co-founder of the prudsys AG. He has shaped the company and its software solutions like few others. From 1998 to 2016, Dr. Thess was one of the managing directors responsible for algorithm…
https://prudsys.de/wp-content/uploads/interview-micha-2.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2021-06-07 11:17:392021-06-08 15:13:58Data mining and AI through the ages - from horse-drawn vehicles to supersonic aircraft: An interview with Dr. Michael Thess
Retailers deal with large amounts of data every day - be it in purchasing, inventory management or price management – throughout all processes along the value chain. Artificial intelligence (AI) supports online and stationary retailers alike…
https://prudsys.de/wp-content/uploads/ki-am-pos.png6281200Mr Personalizationhttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMr Personalization2021-04-06 13:21:582021-04-08 11:23:42Three ways artificial intelligence benefits customers and retailers at the point of sale (part 1)
The option to return goods free of charge or for a small fee is a significant service for online shoppers. Return options deliver a feeling of "security" for consumers that increases their likelihood of ordering. This increase in potential orders…
https://prudsys.de/wp-content/uploads/retouren-1.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2021-02-25 14:17:012021-02-26 07:52:08Dynamic Pricing and the Myth of Rising Return Ratios
One of the key reasons why retailers are focusing on dynamic price adjustments is the ever-increasing dynamic of the market and the increased competition. In most industries, flexibility and adaptability are important characteristics that define…
https://prudsys.de/wp-content/uploads/pricing-leh-2.png6281200Frank Nathanhttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngFrank Nathan2020-11-05 10:41:082020-11-05 14:53:415 Approaches to Successful Dynamic Pricing in Food Retailing
While my last dynamic pricing blog dealt with industry-specific features of dynamic price optimization in the fashion industry, today we’ll look at consumer electronics. The consumer electronics industry is one of the most challenging…
https://prudsys.de/wp-content/uploads/consumer-electronics3.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-09-24 11:58:462020-09-24 14:16:485 Ways Dynamic Pricing Can Help the Consumer Electronics Industry Succeed
In my last blog spot on coupons and bundles, we touched on industry-specific differences that can be crucial to a retailer’s success in the context of Dynamic Pricing. I would like to go into this more detailed and show you which industry-specific…
When it comes to dynamic price optimization, the three crucial KPIs are sales, profit and purchase frequency. In pricing theory, it is said that in principle, any two of this KPIs can be raised together, but never all three. If you look at a…
At first glance, Dynamic Pricing Systems and Recommendation Engines may not have too much in common. Dynamic Pricing is meant for targeted price optimization so a retailer can sustainably grow revenue and profit. Recommendation Engines, on the…
https://prudsys.de/wp-content/uploads/reco-vs-pricing-2.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-06-15 11:17:002020-06-15 12:18:40What Do Dynamic Pricing Systems and Recommendation Engines Have in Common?
I can report from the experience of many projects: Markdown Optimization is one of the topics that retailers are particularly concerned about - across all branches. Because markdowns and especially write-downs cost gross profit. Therefore, it…
https://prudsys.de/wp-content/uploads/markdown-pricing-2.png6281200Mrs Pricinghttps://prudsys.de/wp-content/uploads/prudsys-logo-rgb-homepage-213x88-2018.pngMrs Pricing2020-05-28 10:37:232020-06-04 09:56:32Intelligent Markdown Pricing - now the watering can has finally worn out
We automate personalization and pricing processes in retail by means of artificial intelligence (AI).
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