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Pricing Analytics: The Science of Profitable Growth
“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 Costis Maglaris, David and Lyn Silfen Professor of Business
Faculty Co-Director Costis Maglaras, Professor of Business 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.
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 .
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 .
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 engineering.
He joined Columbia Business School in 1998. During his sabbatical in 2007, he was involved in starting Mismi Inc. where he continues to serve as its Head of Research and be part of its management team. He has also been a frequent consultant to industry. He also holds editorial positions in many of the flagship journals in operations research and management science.
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 Maglaras and Professor Besbes, additional Columbia Business School faculty contribute to and teach in the program, including a guest lecturer from our partners at IRI.