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"The ability to use data and analytics to make pricing decisions is an essential skill that leaders need in their arsenal."
– The program's Faculty Co-Director Robert Phillips, Professor of Professional Practice at Columbia Business School
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.
Join us on March 31 – April 1, 2016 to 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. The Center is led by Director and Professor of Professional Practice Robert L. Phillips, faculty co-director of the Pricing Analytics program. To learn more about Professor Phillips' work on pricing analytics, we invite you to read his article “Should People or Algorithms Set Prices?” article in the European Financial Review. To learn more about the Center for Pricing and Revenue Management, visit the Center's homepage.
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.
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.
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
- 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
Upon completion of this program, you will earn two days towards a certificate with select alumni and tuition benefits. Learn more.
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
For a complete program schedule download the agenda.
PARTICIPANT PROFILE & TESTIMONIALS
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.
The program focuses primarily on business-to-consumer pricing. However, most of the material will be relevant to executives across industries, companies, and geographies. Past participants have included executives from the CPG, retail, financial services, transportation, hospitality, aerospace, media, consulting, healthcare, and automotive industries.
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 analytics-driven 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, Dr. Phillips served as the chief technology officer of Manugistics, a public supply-chain and enterprise optimization software company. He later founded and currently serves as Chief Science Officer and Director at Nomis Solutions, the leading price and profitability management software provider for financial services companies.
Dr. 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. Dr. Phillips is the author of the book, Pricing and Revenue Optimization. He is also co-editor of The Oxford Handbook of Pricing Management
Omar Besbes, Faculty Co-Director
Philip H. Geier Jr. Associate Professor of Business
Decision, Risk, and Operations Division, Columbia Business School
Professor Besbes’ primary research interests are in the area of data-driven decision-making with a focus on applications in e-commerce, pricing, and revenue management, online advertising, operations management, and service systems. His research has been recognized by the 2012 INFORMS Revenue Management and Pricing Section prize as well as the 2013 M&SOM best paper award. He serves on the editorial boards of Management Science and Operations Research.
Professor Besbes he has taught the core MBA courses in Operations Management and Business Analytics, an MBA elective on advanced Business Analytics, as well as various Ph.D. seminars on stochastic models, revenue management and data-driven decision-making. He is a recipient of the Dean's award for teaching excellence in the core at Columbia Business School.
Along with Professors Phillips and Besbes, additional Columbia Business School faculty contribute to and teach in the program.