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Pricing Analytics: The Art and Science of Profitable Growth
With annual organic growth for consumer products companies hovering around two percent, market leaders are approaching new ways of driving performance through an integrated approach to pricing planning, collaborating, and execution.
Pricing Analytics is a two-day program focused on teaching executives how to use business analytics to understand your customers and determine the right prices and products to target them. Participants will learn how to develop this as a key business capability and understand why pricing analytics needs to be incorporated into an effective business process and linked to corporate strategy in order to be effective.
For a complete program schedule download the agenda.
Please Contact Us
Please contact our Learning Solutions Specialists at 212-854-3395 for a personal conversation to learn more.
While a portion of this program will be dedicated to developing understanding of the core models and methods behind pricing analytics, the primary focus includes:
- Gaining intuition on how analytics can be used to support better pricing and promotions decisions
- Understanding how pricing analytics should be employed within an organization
- Learning how the insights from analytics can be translated into action
- Developing tactics to measure the benefits
- Learn new approaches, methodologies, frameworks and perspectives to enable your firm to better link pricing and promotion decisions to strategy and execution
- Bridge leading academic work with practical commercial advances into a roadmap for enhanced impact.
- Apply analytics to pricing, sales, and marketing in an integrated way
Upon completion of this program, you will earn two days towards a Certificate in Business Excellence. Learn more.
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 and when
- 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
- Performance management & compliance monitoring
- Developing a program that support course corrections in a dynamic marketplace
Measuring the benefits
- Measuring value & contribution of price analytics
- Price impact on brand equity
- Case studies illuminating businesses that leveraged price analytic programs to drive growth
For a complete program schedule download the agenda.
Audience & Testimonials
Pricing Analytics is designed for executives involved in pricing who want to better understand how analytics can be used to make pricing decisions. The program focuses mainly on techniques related to B2C pricing. Consumer Packaged Goods (CPG) and retail managers are also invited to learn the fundamentals of pricing and how to harness data to improve profitability.
Alumni and up to four of their colleagues are eligible for a 25 percent tuition benefit for programs lasting up to seven days. More on the Alumni Tuition Benefit.
What recent participants say about Pricing Analytics:
"Really enjoyed the program and look forward to future sessions." – Bob Obrovac, Manager, Trade Strategy, JM Smucker
Prior to joining the Columbia Business School faculty in 2009, Professor Phillips spent 25 years as a consultant and an executive manager in several analysis-based companies. He served as the chief executive officer of Decision Focus Incorporated, a quantitative consulting firm and was a founder and first chief executive officer of Talus Solutions, at the time the largest price-optimization software company in the world. Following the acquisition of Talus by Manugistics, he served as the chief technology officer of Manugistics, a public supply-chain and enterprise optimization software company. He later founded and currently serves as a Director at Nomis Solutions, the leading price and profitability management software provider for financial services companies.
Prof. Phillips’ research and teaching interests are in the broad area of predictive analytics and the use of quantitative methods to help businesses make more effective decisions. His recent research has focused on the ways in which businesses can use their pricing and product positioning to improve profit and create competitive advantage.
Garrett J. van Ryzin, Co-Faculty Director
Paul M. Montrone Professor of Private Enterprise
Chair of Decision, Risk, and Operations
Garrett van Ryzin’s research interests include analytical pricing, stochastic modeling, and operations management. He is coauthor of the book The Theory and Practice of Revenue Management, which won the 2005 Lanchester prize for best published work in operations research. His research has been supported by grants from the National Science Foundation and major corporations, and he has served as a consultant to many leading companies. He was Editor in Chief of M&SOM, currently serves as Area Editor for Operations Research, and is an INFORMS and MSOM Fellow. He received the B.S.E.E. degree from Columbia University, and the degrees of S.M. in Electrical Engineering and Computer Science and Ph.D. in Operations Research from MIT.
Along with Professors Phillips and van Ryzin, additional Columbia Business School faculty contribute to and teach in the program.
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