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The New Frontier of Price Optimization

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The New Frontier of Price Optimization

What would be the price of our product or service? This question has bothered businesses since forever. Several pricing models have been spawned as a result. But the concept of price optimization is a fairly new one. At least to businesses that are not in the hospitality or airline sector.  

Price optimization hasn’t been popular as it requires vast amounts of data on the internal processes, customers, and competitor’s behaviors. And it also takes a lot of time and effort to compute this data to create an optimum pricing model. All this is changing now, thanks to the role of AI and machine learning in the price optimization process.

For example, three researchers at MIT have developed a way for optimizing the prices of hundreds of products in an inventory on a non-stop basis. Data is available at the businesses’ fingertips, and there is an increase in computing speeds too. 

While conducting trials with three online retailers, the researchers succeeded in increasing the retailer’s profit, revenue, and market share by more than 10 percent. Although the trial was conducted with online retailers, the price optimization solution is also viable for brick and mortar businesses. 

Machine learning solutions help in price optimization in three steps:

Forecasting

Since some of the products in the retailer’s inventory have never been tried for price optimization, it becomes necessary to rely on historical records and sales patterns of similar products. This is exactly what the MIT algorithm does through a machine learning technique called the regression tree. 

It analyzes clusters of products similar in sales characteristics to the one being optimized. Then the regression tree, which generates a set of ‘what-if’ questions, analyzes the price-demand dynamic. Using this data, a new optimized price is determined. 

Learning Curve

The next step in the price optimization process is the algorithm comparing the price determined above to the real time sales. The pricing curve is redrawn to match actual results with the predictions. At the end of this step, the algorithm knows how successful the price was in increasing sales. The price-demand curve is then redrawn. 

Optimization and Scaling

After several rounds of learning, the optimum price of the products is determined. The curve is applied through hundreds of items at different periods. 

There are several price optimization solutions in the market like help retailers maximize sales and profits. It helps companies stay updated on competitors’ price strategies and deals. 

There are several advantages to using machine learning for price optimization, including:

  • Machine learning software takes into account a large number of products and analyzes the most minute criteria. There are several parameters, channels, and sources that the algorithm studies. Such fine detailing is impossible through manual means.
  • It’s well known that changing the price of a product can affect the sales of other products. Such levels of predictions are difficult for a human to make, but not for machine learning solutions. 
  • Companies can also change the different KPIs and see how the different pricing models turn out.
  • The large amount of data analyzed helps the algorithm predict pricing trends. This helps companies make relevant pricing decisions.
  • Machine learning solutions can gather significant information about competitors pricing through websites and social media. They also help collect data about the discounts, deals, customer response to prices, and other key factors. 

A study by Bain shows that the top-performing retailers in the market are those that have a dynamic pricing strategy. So, understanding the reaction customers will have to your pricing models is essential. This is only possible through adapting machine learning solutions for price optimization. They use the major key pricing variables like inventory, season, competitors pricing, etc. to create effective pricing models.

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How the Stock Market Works: A Beginner’s Guide

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Stock Market Works

Share Market or Stock Market! Where sellers and buyers are getting together for sake of exchange their trades. If a company wants to borrow money from the general public they have to get registered at the stock exchange. If a company with name ABC and co have a business idea but have lack funds then they can borrow it from the general public. So, ABC and co was not the only business that came up with the idea of taking money from the public and offer them shares, tons of them had already done that and that is stock market investing where investor  invest on listed companies to get profit as per his shares.

After getting the initial money from the general public, all those companies were registered on the stock exchange so that people willing to purchase and sell their shares could do it. Now, ABC is listed on the stock market with all the other companies in the country. ABC and co shareholders could now easily sell off their shares and buyer, who missed the bus earlier, could catch it now! The earning of the stock exchange or stock market is related to buying and selling of shares with a minimum percentage.

Working of the Stock Market:

The stock market usually consists of an exchange. This is where listed stocks are traded. The exchange is a market-place. Here seller and buyer and the trader with each other in this place.

Working in the stock market based on demand and supply principles. Think of juice, a very common good we all use. If the price of juice reduces, we may think of drinking more of it, and they also replace it with other cold drinks. So the quantity of juice consumed will increase. As they deal with a large number of shares, their transactions have a big impact on the index of that market. So if they think that in a country inflation rates are precariously low, they assume that the money contained in the market (liquidity) is low and the market is slothful (bearish). 

So, Demand and supply determents the price of the stock in the stock market. If people are willing to buy your Stocks rather than selling them then your stocks are doing well and the price can rise.

Factors Which Can Effect Price of Stock Market:

The stock market is about predicting the future. Some investor tends to price a company stock value based on the fundamental of the company. For example, there are value models of P (price)/E (earning), P (price)/B (book value) among other similar pricing models.  

Normally, various industries have their way of valuing the stock of a company. Almost in every instance, the debt market always raised a red flag before the arrival of any correction or bear market. At the same time, the debt market usually scrutinizes a company’s cash flow in a way no one else can do. 

Basic “Bull” and “Bear” Terms of Stock Market:

“Bull” and “bear” markets are two of the fundamental principles of stock market trading. The term bull market is used to refer to a stock market where stock prices are normally growing. This is the sort of market in which most investors succeed since most equity investors are buyers of stocks rather than short-sellers. A bear market occurs when stock markets usually decline in price.

Short Selling Concept in the Stock Market:

By short selling, investors can still benefit even in bear markets. In the secondary market, the lender then sells the loaned stock securities and collects the money from the selling of that stock. If the stock price falls as the investor wishes, then by buying a sufficient number of shares, the investor will realize a profit to return to the broker the number of shares they lent at a total price lower than what they earned earlier at a higher price for selling shares of the stock. Analysts and investors in the stock market can look at many variables to indicate the possible future trajectory of a stock up or down in price. Here’s a list of some of the stock analysis variables most often viewed.

Valuation of Stock in the Stock Market:

Valuation is a calculation of how much the company is worth to the equity owners who believe the company is a rising concern. It aims to worth a company’s value, including potential possibilities. Today, the rationale is to prepare for the company’s growth in the future and price it accordingly.

Most stocks, such as the New York Stock Exchange (NYSE) or the NASDAQ, are exchanged on exchanges. To promote the purchasing and sale of stocks by investors, stock exchanges effectively provide the marketplace. In the United States, stock exchanges are regulated by government agencies, such as the Securities and Exchange Commission (SEC), which supervise the market to protect investors against financial manipulation and to keep the exchange market running smoothly.

Performance of Sock in the Stock Market:

Usually, the overall performance of the stock market is monitored and expressed in the performance of different stock market indices. Stock indexes consist of a stock selection that is intended to show the overall performance of stocks. The indexes of the stock market itself are exchanged in the form of options and futures contracts, which are also traded on regulated exchanges.

Investing in the Stock Market:

The stock price ratio of a company about its EPS. A higher P/E ratio means that investors are prepared for the company’s stock to pay higher costs per share because they expect the company to expand and the stock price to increase.

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Guest Blog- Brawon – 6 Tips For Relevant Keyword Research For Beginners

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Search engine optimization is the key to rank higher on the search engine result pages. This helps you get more traffic to your site compared to your competitors. This technique will help you to be more visible and it can help you to build your online identity by staying visible on the search engine ranking. In SEO, many different factors will play a significant role in the ranking process. Keywords are one of the essential things on the list.

Keywords are important factors when it comes to the search engine optimization game. Keywords are entered on the search bar to get the different results in the search engine result pages to pick the desired content. The keywords in SEO act like a magnet that will help you to extract the right content from the millions of web pages on the internet.

Finding the keywords that are relevant to your business niche is an important task before you do SEO. If you are new to the SEO business, you might be wondering where do the businesses get these keywords? We are going to discuss how to find the keywords and how to optimize the usage of them. To make one thing clear for you, is that without the correct keywords you will not be able to run a successful digital marketing campaign.

Now the important question here is how can a person do it? In the following blog, we are going to tell you about some basic keywords finding tips that will help you in improving your SEO:

1-Understand What You Want To Find

Before you kick start the process of finding the keywords, you should map out what you want to find and why it is important to you. It is important to note that the keywords will assist you in targeting the right audience so they can find your content easily. Keeping this in mind, you have to start doing the required things after knowing your audience as well. For this, you should consider the following things:

  • Currently, who is buying your services or products?
  • The average income of your current customers.
  •  Age and gender of your current customers.

Once you are done determining the marketing persona, then you should ask yourself what will people be searching on Google? What kind of queries would they have in mind and what will they type to search for the relevant content? Remember that you have to keep such questions in your mind to move forward in your research process.

2-Identify Relevant Topics

Once you are aware of your target audience, now it’s time to brainstorm the topics that you are going to target. The ideas you are going to collect will not be the particular keywords but they will be providing your categories related to your keywords.

Just consider this as an example. If you are doing a business where you are selling different tools like shovels, hammers, and much more. Keeping this in mind, the few topics that will be in your mind will be construction, gardening, home maintenance, and woodworking.

During this, you should always keep these questions related to your audience in mind.

3-Search Keywords From Each Topic

You can’t ignore the keywords when it comes to SEO. As discussed above, these keywords are like magnet and they are very much essential for content relevancy. Once you are done in outlining the list of topics, then you have to start thinking about the keywords you are going to use.

To make you understand in a better way, just consider the above example. Picking up the woodworking, you should ask yourself a question about woodworking: what kind of queries people will have in their mind?

For your information, woodworking is related to shaping and building things from wood and you will come up with how to build X as your topic along with the X. Later, you can replace this X with the shelf, table, bird box, and much more.

After you are done listing the potential queries, then you can find out each topic and it will be the time to step into the important part of the research process.

4-Find Out Keywords You Are Already Ranking

This is interesting to note that even if you haven’t targeted any keywords, you will be ranking for some keyword on the SERPs. It will be a good idea to find those keywords for which you are already ranking. In this way, you can have a precise idea about the topics that are very relevant to your business.

Now, you might be wondering who you will find that you are ranking for any keywords? Well, one of the easy and simplest ways will be to use Google Analytics and this is totally free. You can also use various other tools that will help you to get a detailed assessment of the keywords present on your website. Some tools are free and some are paid.

Note that irrespective of the platform that you are using, you should identify some good keywords from your existing rankings. After that, you should add those keywords to your existing list.

5-Find Out Your Related Keywords

Without any doubt, you can brainstorm keywords all day but, in the end, the best and most reliable source for this task is to know what people are searching for on Google. Furthermore, the best way to find out the keywords will be getting yourself involved in the related keywords.

If two keywords are related to each other, then Google will try to understand and try to identify the search intent. For instance, if you are looking at the keywords like “cabinet making instruction”. One of the results that you will get is “how to build a wall cabinet”.

When you are trying to find related keywords, you can use various free keyword tools like Google Keyword Planner. 

6-Filter Your Keyword List

At this point, you will have a long list of keywords. You can’t use all in your process. Some will be good and some can be neglected because they will not be able to provide you a good amount of traffic.

You should only work on high-volume keywords. At this point, you should be paying more attention to the relevance and you should be using things like present ranking and relevant keywords. Now, you might be wondering what to do about the volume?

For your information, the search volume will be determining the amount of traffic received by a keyword. There is no point in writing the entire article on “birdhouse tips” and later to find that no one will be searching for that particular keyword.

To get rid of this problem, you can also use a tool like Google Trends, this will help you to see the search volume of a keyword over time. With this, you can clearly see if the keyword popularity is increasing or decreasing.

Filter out the list and remove all those keywords with less search volume. More importantly, you also have to keep a good balance of long-tail keywords and short-tail keywords to get the benefits. There is no need to keep all your keywords broad.

Conclusion

Keywords are a must for achieving success with SEO. The selection should be made carefully. You should use the tools and look at the relevancy of the keywords depending on your business niche. As a business, if you consider finding the keywords difficult, then you should connect with a professional SEO company for help. The experts will guide you in the right way and your website could end up ranking high on the SERPs.

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Chime Review: Checking and Savings

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Chime is an online-only firm that associates with two banks to provide its own checking and savings accounts. It is not like your conventional local bank branch, however Chime accounts nevertheless have FDIC insurance, so they are safe areas to keep your cash. Chime doesn’t have monthly charges or overdraft charges, and it permits you to round purchases up to another dollar and save the rest. But money can be tricky to deposit.

Chime High Yield Savings

Chime provides an annual percentage return of 1.00 percent, and it doesn’t have any minimum balance requirement. Or, you can get the provider mechanically transfer 10% out of your paycheck into your savings accounts. Both attributes are optional, but convenient, rather than all savings account have them. Remember that you need to get a Chime bank account until you are able to start Chime savings.

Chime Spending Account

Chime’s bank accounts is free: It does not have any monthly fee and no minimum balance requirement. With direct deposit, clients can get paychecks to 2 days sooner than in a conventional lender. Additionally, Chime does not charge commissions to use your card overseas; additional banks generally charge 1% to 3 percent of the quantity of your purchase. But, Chime does cost $2.50 per transaction at out-of-network ATMs, and you are going to need to deposit money at Green Dot places, which might charge a commission. Chime does not offer you a bodily checkbook, but you can pay invoices by sending a test on the internet through the Chime Checkbook attribute. You might even supply billers along with your Chime account number and the routing number. Further limits to Chime will be the daily and monthly transfer limitations. After you initiate an internet move through Chime, the maximum you may send from an outside lender is $200. There’s a workaround, however: You can initiate a move in the external bank accounts, which probably has higher limits. Chime spending limit is discussed more here.

Banking experience

Chime’s mobile program excels where it counts — clients have rated the iOS version 4.8 stars as well as the android program 4.6 celebrities, both from 5. What is more, daily equilibrium upgrades and real-time transaction alarms can help clients keep on top of their own spending. And in case your card goes missing, you are able to block transactions utilizing the Chime program. Along with getting low prices, Chime opts from using screening tools which many banks use to ascertain if or not a person is going to be blocked from acquiring a bank account when they have had one closed previously. This will make Chime a very helpful banking alternative if you are attempting to restart your budget. Clients may also get help through the program or email. Kendra Boccelli, Chime’s head of public relations and communications, affirmed that when Chime identifies questionable activity in a single account, it could be suspended throughout the inspection. Boccelli also says the accounts inspection teams can request advice from a client without suspending the accounts. Chime is not the only firm that has frozen accounts as a reaction to possible fraud.

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Essential Oils for Tantric Massage

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One of the key ingredients to any successful tantric massage is the massage oil that is sued. Here we look at some of the most commonly used oils, to help with a great overall massage experience:

Coconut Oil

Coconut Oil is one that is very commonly used for tantric massage. One of the reasons for this, is that its absorbed well into the body, is tolerated by most people of all skin types, and also has a very slippery texture. There are two main types here: fractionated and non-fractionated. The non-fractionated version is more slippery, whereas some prefer a less slippery oil, depending on the type of massage.

Another reason people like to use Coconut oil, is that it absorbs and moisturizes well, and doesn’t give that greasy feeling like other traditional oils. Some studies have also found that Coconut Oil can help with inflammation, and skin protection.

Sweet Almond Oil

This is becoming ore popular for modern massage, and the Sweet Almond Oil is a very pale yellow colour. It has an oily texture, which promotes that easy gliding across the body, making for a seriously exotic tantric massage. It doesn’t absorb too quickly into the body, and therefore the massage therapist doesn’t have to keep on applying more during the course of the massage. Being non-allergenic, it’s also said to be perfectly fine for most skin types.

Having said that it’s probably worth asking your client if they have any nut allergies first – if so, it might be worth switching to a different oil.

Jojoba Oil

This massage oil is actually a ‘wax’ that is extracted directly from the Jojoba plant seed. It’s said to be a very good choice for those with acne issues, due to its strong antibacterial properties. It’s also one that can be tolerated by most skin types, and additionally lasts well over time.

Another great thing about Jojoba oil is that you don’t need to worry about it causing stains on fabrics. You can easily use a basic detergent with some hot water on any cotton etc. to remove easily. This means any bed sheets can be easily cleaned after the massage session without worrying about leaving stains behind.

Finally, one of the plus points about using Jojoba Oil for tantric massage is that is washes off extremely easily. Your massage client will feel refreshed and rejuvenated after a session with Jojoba, and certainly won’t be desperate for a shower, like with many of the traditional massage oils. In summary, you may choose a different massage oil for different clients depending on their skin tone, complexion and overall requirements. Some clients will of course have their own preference too, but these are a few of the more popular massage oils of 2020!

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5 Issues in the Workplace You Need to Ask About

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5 Issues in the Workplace You Need to Ask About

Issues in the workplace are all too common, and one of the primary reasons why many people are dissatisfied with their job isn’t because of their work tasks, but the work environment. Thankfully, there is a way to get an idea of what type of job you’re interviewing for before accepting a new position.

Take a look at the questions you should ask while interviewing:

1. Office Disagreements

One of the biggest issues in the workplace are disagreements. People usually have opposing opinions or there is a clash of personalities between co-workers. When you’re looking for a new job, you want to know how your employer handles workplace arguments.

It’s important to work in a workplace culture where employees are heard and not punished without having their side of the story explained.

2. Diversity in the Workplace

Another one of the biggest issues in the workplace is diversity. When you’re interviewing, you want to make sure that you work for a company that’s inclusive. When an employer doesn’t see the value in hiring people with differences, that’s not a good sign.

It’s a smart idea to ask your prospective employer how they view individuality.

3. Workplace Accidents

There’s nothing worse than working with a company that sees you as a replaceable number. When you experience a slip and fall or another type of injury, your employer should take care of you and be there until you get back to optimal health. Ask your potential employer how they generally handle workers comp and injured workers.

4. Harassment in the Workplace 

Harassment in the workplace creates a lot of problems for the victim. You want to work for an employer who takes harassment seriously. A hostile environment can ruin your employment experience with the company you’re working for.

Make sure that you’re not spending your time and energy with a company that doesn’t put their employees first.

5. Workplace Standards

Workplace standards are a big deal. Employees spend the majority of their time at their job, and it’s important to spend time at a job that has good standards.

The place that you are interviewing for should have high standards in the way that they treat their employees. You want to work at a place that not only has high standards for you, but has high standards for themselves as a company. 

Avoid Issues in the Workplace

It would be great if every employment situation was perfect and there were never any issues in the workplace. However, that’s not reality. But there are some things that you can do to minimize frustration with a new job. The main way to do that is to ask the important questions up front before accepting the position.

If this information was helpful, feel free to read more of our website. We post a variety of topics to help educate our readers. Continue browsing to learn more.

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