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Columbia Business School

Pricing Analytics: the Science of Profitable Growth

Next dates

Oct 15—16
2 days
New York, New York, United States
USD 3750
USD 1875 per day

Description

Pricing Analytics is a two-day program focused on teaching executives how to use analytics to better understand their customers and design more targeted and profitable pricing and promotional programs. Research has consistently shown that companies using an analytics-driven approach to pricing significantly out-perform their competitors.

Learn from our leading experts how to:

  • Build analytics capabilities within their organizations
  • Translate analytic insights into action
  • Integrate analytics into core business processes
  • Link analytics to corporate strategy.
  • Learn how to turn data into insights that drive improved performance and profitable growth for your company.

The program is offered by Columbia University’s Center for Pricing and Revenue Management in partnership with its sponsor, IRI.

About the Center for Pricing and Revenue Management

The Center for Pricing and Revenue Management is a joint initiative of Columbia Business School and the Industrial Engineering and Operations Research department of the Fu Foundation School of Engineering and Applied Science at Columbia University. The Center’s activities focus on research, education, and industry practice in pricing, customer, and business analytics. To learn more about the Center for Pricing and Revenue Management, visit the Center's homepage.

About IRI

IRI is a leading provider of big data, predictive analytics, and forward-looking insights that help CPG, OTC health care organizations, retailers, and media companies grow their businesses. Sharat K. Mathur, Senior Vice President and Practice Leader at IRI Strategic Analytics, will be a guest speaker at this program. Sharat Mathur works with clients to define their go-to-market strategy and develop their pricing and trade promotions programs. He helps clients develop their analytic capabilities and solutions as well as change their strategy and processes. To learn more about IRI, visit iriworldwide.com.

Impact

Focus

The primary areas of focus of the Pricing Analytics program include:

  • Core models, methodologies, and theories of pricing analytics
  • Data and analytics tools used to support pricing and promotion decisions
  • Best practices for building and deploying pricing analytics capabilities
  • Translating analytic insights into action
  • Metrics to measure the impact of pricing changes

Key Learnings

  • Learn new approaches, methodologies, and strategic frameworks to enable your firm to better link pricing analytics insights, pricing, and promotion decisions to market strategy and execution
  • Bridge leading academic work with practical commercial advances to develop a roadmap to profitable growth for your organization
  • Use comprehensive data sources and advanced analytics to learn more about customers and develop products, prices, and promotions to better target them
  • Apply analytics to pricing, sales, and marketing decisions in an integrated way

Program Structure

Sample Sessions

Understanding the primary approaches, analytic models, and methodologies used in pricing analytics to support decision making

  • Alternative approaches to pricing
  • Methodologies to identify pricing opportunities
  • Theories of pricing: price-response curves, willingness to pay, and price elasticity models
  • Customer segmentation, price discrimination, and customized pricing
  • Alternative techniques, models, and latest developments

Supporting better pricing and promotions decisions with analytics

  • Theory of price analytics
  • Micro-economic heritage
  • Empirical “truths” / econometric development
  • Available techniques and latest developments

Employing pricing analytics within an organization

  • What to use, when, and where, and how to organize pricing
  • Building an intelligent revenue growth strategy
  • Best practices for internal engagement
  • Navigating, interpreting, and validating results
  • Bringing insight to life

Translating insights from analytics into action

  • Driving a culture of inquiry and acceptance
  • Solutions for accessibility and enablement
  • Ensuring effective execution of pricing policies
  • Performance management & compliance monitoring
  • Supporting course corrections in a dynamic marketplace

Measuring the benefits

  • Measuring value & contribution of price analytics
  • Pricing and promotion impact on brand equity
  • Case studies highlighting businesses that leveraged pricing analytics programs to drive growth

Who should attend

Pricing Analytics is designed for mid to senior-level executives who want to better understand how analytics can be used to improve pricing and marketing decisions, revenue growth and profitability.

Experts

Biography Omar Besbes is an Associate Professor in the Decision, Risk, and Operations division at the Graduate School of Business, Columbia University. His primary research interests are in the are of data-driven decision-making with a focus on applications in e-commerce, pricing, and revenue m...
Biography Costis Maglaras is a Professor at the Graduate School of Business at Columbia University in the division of Decision, Risk & Operations. His research focuses on quantitative pricing and revenue management, the economics, design, and operations of service systems, and financial engi...

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