View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Cloud
July 9, 2015

SaaS collides with eCommerce

Blue Yonder is applying its machine learning algorithms to optimise pricing.

By James Nunns

Blue Yonder, the company born out of CERN, is targeting optimum pricing for eCommerce retailers.

The company’s Forward Pricing product will apply machine learning algorithms to thousands of automated daily price updates.

The SaaS package can monitor internal data such as sales history and external data such as the weather and competitor pricing. The goal of this is to find the optimal price for any product.

It is designed to analyse interactions between the price change and subsequent changes in demand, so instead of manually tracking, measuring and altering pricing it can all be done automatically with this system.

Jan Karstens, CTO at Blue Yonder said: "Retail has become an ultra-competitive business and consumer behaviour is rapidly changing due to a multitude of factors. This makes it difficult to develop an effective pricing strategy with gut-feel and manual adjustments alone.

"Most companies lack the software to approach pricing strategically and automatically, instead relying on a number of methods that have limited value. These include cost plus pricing; competition minus pricing; odd pricing (99p) and time-based discounting."

The product will automatically start to experiment, tune and optimize data once it is sent to it. It will be managed by a team of Blue Yonder’s data scientists.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU