Noteworthy Items
A Client's Perspective
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Presentations
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Predicting the purchasing patterns of consumers has been an inexact science for math modelers. Recently, Veritec's Dr. Warren Lieberman and Dr. Michael Raskin were interviewed for an INFORMS Science of Better podcast about Veritec's new approach to forecasting consumer behavior. These two researchers believe the answer is not in modeling the way that consumers behave but mapping their many disparate thoughts and actions on the way to their purchase decision. Hear them discuss their insights into a perennial challenge for marketers.
Listen to the podcast here.
Recent Conference Presentations
Disjunctive Mapping: Changing the way we understand and predict customer behavior
Cornell University - June 16-18, 2010
Relative to the traditional statistical techniques that we have come to rely on, this presentation presents a fundamentally different way to analyze and predict customer behavior. New analytical tools are described that highlight where and how opportunities exist to modify customer behavior to better achieve desired outcomes. Potential application areas include forecasting demand at alternative prices under multiple competitive responses and the likelihood that alternative competitive responses will occur.
Disjunctive Mapping enables analysts to measure the change in probability of an outcome due to the influence of any factor or set of factors in the data, without building models. A user-friendly, intuitive, structured inquiry process allows it to offer direct, accessible, comprehensive, and prioritized measures in answer to practical questions.
Succeeding with Revenue Management
IAAM Spokane - April 25, 2010
Whether your revenue management program has been recently initiated or is highly advanced, you may have realized that a significant amount of money is still being left on the table. Or perhaps exhibition and conference center space is not being used as well as it might be. Dr. Warren Lieberman highlights approaches you can use to enhance your revenue management program. You'll walk-away with specific ideas on what you can do to make your venue more successful.
Effective Pricing
INFORMS Orlando, April 18-20, 2010
The extent to which a company's pricing decisions lead to profit maximization depends on how well it blends the art and science of pricing. Working to increase the benefits of pricing programs at firms across approximately 20 industries in the past 25 years, Veritec staff have developed and characterized strategies and tactics that influence pricing effectiveness.
Videos
The Art and Science of Profitable Pricing
Henry Stewart Talks (HST) has developed a collection of animated audio visual presentations that are offered as an educational resource to academic and commercial organizations. Veritec's President, Warren Lieberman, has contributed two of the 17 talks to the series on Practical Pricing and Revenue Management. The links below will provide access to the first five minutes of each presentation. If you want to obtain access to the full talk or to the entire series, information is provided on the HST website on how to subscribe.
Practical Pricing for the Hotel Industry
Pricing and Revenue Optimization: Maximizing Staff Effectiveness