Pricing Data Analytics: The Hows and Whys with Armin Kakas

<p dir="ltr"><strong>Armin Kakas</strong> is an expert in analytics, having lots of education in statistics, machine learning and A.I. He has an MBA, and he was a former VP of analytics at <a href="https://www.atd.com/en/">American Tire Distributors</a>. He is also the founder of <a href= "https://www.revologyanalytics.com/">Revology Analytics</a>, a revenue growth analytics consulting company. </p> <p dir="ltr">In this episode, Armin talks about data analytics and its crucial role in pricing and in businesses as a whole.</p> <p><strong> </strong></p> <p dir="ltr"><strong>Why you have to check out today’s podcast:</strong></p> <ul> <li dir="ltr" role="presentation">Learn the importance of gathering and understanding data both in B2B and B2C setups</li> <li dir="ltr" role="presentation">Find out why pricing and price adjustments must be base on data and customer feedback and should never be done internally in a company</li> <li dir="ltr" role="presentation">Learn how to communicate and unite insights from both the points of view of business people and statistics people</li> </ul> <p><strong> </strong></p> <p dir="ltr">“There needs to be a much smarter, much surgical way to manage discounts and really reward those customers that have the highest lifetime value or highest volume versus other things.” </p> <p dir="ltr">– Armin Kakas</p> <p><strong> </strong></p> <p dir="ltr"><strong>Topics Covered:</strong></p> <p dir="ltr">01:55 – How Armin got into pricing</p> <p dir="ltr">03:35 – B2B vs B2C: Armin’s experience in applying pricing data analytics, and which one he prefers</p> <p dir="ltr">05:57 – Armin’s insights on B2C based on data</p> <p dir="ltr">06:46 – What is promotional effectiveness</p> <p dir="ltr">07:34 – Products Armin used to promote on Black Fridays when he worked at BestBuy</p> <p dir="ltr">09:09 – Why CPGs must have a strong understanding of the relationship between price and value</p> <p dir="ltr">10:19 – Why companies should asses price and value based on customers’ response and not internally</p>