"From Revenue Management To Pricing Analytics" - Robert Phillips (Amazon and Nomis Solutions)

Описание: Abstract: In this talk, I will discuss some of the most important pricing challenges facing on-line retailers and marketplaces. Dynamic pricing was pioneered by passenger airlines under the name “revenue management”. However, the rise of on-line commerce has both accelerated the velocity of pricing changes and vastly increased the amount of available data. Automated pricing algorithms are required to deal with the sheer volume and velocity of pricing changes and machine learning approaches are increasingly used to exploit the immense volume of available data. I will discuss the current state of the art in the application of analytics to pricing in high-velocity environments such as on-line retail. Specific topics include revenue management, the use of reinforcement learning for dynamic pricing, the challenges of conducting on-line pricing experiments, and estimation of the implications of pricing on long-term customer behavior.

Biography: Dr. Robert Phillips is Director of Pricing Research at Amazon.
Prior to joining Amazon, Dr. Phillips held positions as Director of Marketplace Data Science at Uber, Professor of Professional Practice at Columbia Business School, Director of the Columbia Center for Pricing and Revenue Management and a Visiting Scholar at the Stanford Business School. Dr. Phillips is also the founder and a member of the Board of Directors of Nomis Solutions; a software and consulting company that helps financial service companies better manage pricing and profitability. Dr. Phillips is author of the books Pricing and Revenue Optimization and Pricing Credit Products as well as co-editor of The Oxford Handbook of Pricing Management. He is an INFORMS Fellow and a recipient of the INFORMS Impact Prize. Dr. Phillips
holds a Ph.D. in Engineering-Economic Systems from Stanford University.