Doing business thanks to Mathematics
9 November 2016
What to place in the store window to attract customers? Simple mathematics comes to the rescue of retailers.
This is the case of Evo Pricing, a start-up in Turin, which collaborates with the University of Piedmont, and has developed an algorithm to predict what are the most suitable products to place in each store. Everything is based on big data, each store adapts its algorithm, able to handle about one million and two hundred thousand variables per week, based on weather, competition, historical data of each store etc. The result is a weekly sale proposal.
To study the history of Evo Pricing, which currently works with 500 businesses around the world, we recommend reading the article:
"Data, weather and mathematics." A start-up that tells stores what to place in their windows, La Stampa, 09/11/2016