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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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7 Best Plants That Will Make Your Office Desk Lively

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Make Your Office Desk Lively

Usually, work consumes you, and you feel dull after a time. It is not because of what you are doing but because of the surrounding you are in. When we surround ourselves with positivity and liveliness, we often feel better and energetic. Complete research was done. A study showed that people whose ambience is cheerful and filled with good vibes tend to work more efficiently and effectively without taking any work as a burden. Even they remain cheerful for more time than others.

Now let us enlighten you about what you need to add to your office desk to stay fresh and keep your ambience light and healthy. You must be knowing how plants help to boost energy, spreading green all around. Same way office table plants can be very helpful, how? Well, they transform the workplace into a tranquil, peaceful and engaging environment. They are easy maintenance plants that you keep on your desk. Whenever you feel low, you can easily look at the freshness they provide, and you are back to normal.

So, we have curated some seven plants that you can adorn in your office table and will look very creative. Remember, if you are not green-thumbed, then the plants may end up losing their freshness. Let’s have a look at them…

Ficus Benjamina

Ficus Benjamin is one of the cutest additions to the office desk. Unique and creative, it looks like a stand-alone specimen or a mixed display of it. This usually catches the attention of everyone because of its peculiar nature. Remember to place them at that point where cold drafts don’t harm them because they might not survive with that. So make your office space beautiful with this addition.

Bromeliads

A perfect plant to adorn the reception area of the office. This cute little plant may require a little more maintenance at the start while it’s blooming and then, it needs occasional watering and very little care. The striking colours and blooms look very attractive and are one of the most catchy plants it is. Adorning the office space with this plant is kind of good and healthy.

Peace Lily

Peace lily plants are well known for cleaning the air and are one of the beautiful additions to the office desk. With wide, broad, deep green leaves, they have white flowers that look soothing and shine slightly.

This is another low maintenance plant that doesn’t need much light and often forgives the over-watering done. It clears the toxins and keeps the environment fresh and friendly. So, you can anytime add this over-grower to your office table.

Dracaena

Dracaena is one of the most demanding plants to choose from, but if you want to eliminate pollutants, it is good to go with it. They can survive even drought-like conditions, but the relentless root system makes it a difficult one to keep at an office desk.

Dracaena is an ideal plant for the dark colour space because its thin dark leaves give a gorgeous addition to the office space. Besides, it is a tough and forgiving plant.

Cacti

When you are out of ideas, then you can only trust a cactus in that time. It is like a safe plant to keep at an office desk. If you don’t like many people surrounding the desk, then this is one of the most delicate plants to put, but yes, don’t let it harm anyone. Keep it in a safe place. It again needs less care and maintenance and survives even the harshest conditions. So, it is good to keep cacti as your office desk plant.

Aglaonema

Aglos are a Chinese evergreen plant that is well known for its colours of the leaves. Mostly grown dark greens but sometimes have silver or red shade in it.

Also Read: 5 reasons why workplace safety is so important?

According to Chinese references, this plant is a symbol of long life. It also needs less care or no maintenance. So adorn your office space with this beautiful aglaonema plant.

Devil’s Ivy

Devil’s Ivy is one of the evergreen vines also known as Pothos. It has a unique leaf structure that comes out heart-shaped and is usually light green leaves with some dark shade. It looks incredibly soothing to the eyes, and this species is well adapted to office conditions. It is an easy-to-care plant that can be kept near your office table or on the desk.

Final Thoughts

If you are still thinking about which plant to choose from the given options, then do not worry! All are equally good and will help you to stay cheerful throughout the day. Just like pets, plants are one of the best friends of humans, and we can grow with them learning about how they care about us. If you take care of your office table plant, then they will keep you energetic throughout the day. We hope this information helps you.

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iPhone 12 Pro Max: Main Advantages and Creating Reliable Protection

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iPhone 12 Pro Max is the most versatile smartphone among those created by the company Apple during its existence. Its diagonal is 6.7 inches, which was appreciated by fans of Apple and phablets. Using the gadget, you can play a variety of games, watch movies, or just visit social networks. But these are not the only advantages of this model. Below is a complete list.

What are the Benefits of a Smartphone?

At first glance, it may seem that the iPhone 12 Pro Max differs from iPhone 12 Pro only in size. But this is not the only difference. Below are the main advantages of the new model.

Autonomy

The battery in the oldest model has the largest capacity. It would be logical to assume that the operating time on a single charge should not increase significantly, because along with the battery the screen has increased, which draws a significant amount of energy.

But since it’s not just about the display, the autonomy of the iPhone 12 Pro Max is much greater. This has been proven by various tests of smartphones in working mode.

Camera

It may seem that the camera units are no different. But this is only at first glance:

  • Firstly, the camera unit on the older model is larger;
  • Secondly, the iPhone 12 Pro Max has a 47% larger wide-angle camera sensor, which affects the sharpness of images taken in the dark;
  • Thirdly, better optical stabilization allows you to take clearer photos and smoother videos.

Other models in the line, including the iPhone 12 Pro, also shoot great. But in some cases, the Pro Max really wins.

Power, Performance, Optimization

Like other Apple smartphones, the iPhone 12 Pro Max received the A14 Bionic chip. At the same time, a high level of smartphone performance is provided by 6GB of RAM. The phone is equipped with 512 GB of non-volatile memory. It has an NFC, Ultra-Wideband, Wi-Fi 6, Bluetooth 5.0, and a set of navigation.

Design

Another strength that characterizes the entire iPhone 12 line is the design. It really sets it apart very favorably among other models. iPhone 12 Pro Max received virtually the same design as the iPhone 12 Pro but has large dimensions (160.8 ˣ 78.1 ˣ 7.4 mm) and weight (228 grams).

The body of this phone is made of a steel frame and strong glass. Thus, the smartphone is the largest iPhone to date. It is equipped with a matte back panel and a steel frame, which look very good.

In addition, the device has received protection against water and dust, which meets the international standard IP68. All function keys are located in such a way as to ensure comfortable interaction with the smartphone.

How to Provide Reliable External Protection of iPhone 12 Pro Max?

If you have recently purchased an iPhone, then you should think about the protection of its body and display from possible damage during use. Protective wood cases, which can be easily purchased on the website https://woodgraw.com/, will help with this. Such accessories are highly reliable and original, so many people choose them today.

The price of the wood case for the iPhone on the online platform https://woodgraw.com/collections/iphone-12-pro-max-wood-case is quite affordable, so everyone can choose a unique accessory, which:

  • Protects the display, side, and back of the phone (depending on the model of the case) from dirt, scratches, abrasions, bumps, and other damage during a fall or contact with other items in your pocket or handbag;
  • Fully complies with the features of the device, and therefore not interferes with access to the control keys;
  • Perfectly emphasizes the taste of the owner. Manufacturers offer a large selection of covers in different prints, which allows you to express your own personality.

By selecting a protective case for iPhone 12 Pro Max, you can be sure that its body will be most effectively protected from the negative effects of the environment throughout its operation.

So, in this article, you received information about the pros of the iPhone 12 Pro Max, as well as how to externally protect the device and ensure its long service life. We hope that the material was useful to you. Find more interesting information in other articles on the Newshunt360 website.

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Discover lowest prices on a sticker and card printing at VC Print

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round sticker printing

At VC Print we are the masters and leaders of professional commercial printing needs. We have a plethora of companies for whom we design and manufacture stickers, cards, and other stuff. We excel in round sticker printing and a range of other items for business purposes, marketing purposes, and brand recognition purposes as well.

The best commercial printing company providing a range of sticker printing services

VC Print is a trusted brand over the years providing a complete range of sticker printing and designing or even advisory services to its clients. We help you to choose the sticker shape, size, and other parameters.

Along with this, we provide complete help on designing various stickers with improved features as well. For example, for round sticker printing you can get various inbound or embedded features such as glowing stickers, radiant stickers, waterproof stickers, etc.

We also have the best machines and technical infrastructure in our company in place to meet all your bulk printing demands.

Value addition of card printing to add to your business profitability

When it comes to loyalty card printing then you can visit our online portal to get advice. You can come to our online portal and take advice on how to choose and select from a range of loyalty card shapes and sizes.

We also believe that depending on the type of industry you are in and the products and services that you have you need to choose your loyalty card shapes, fonts, designs and textures accordingly.

We can help you to choose the best loyalty cards and even the fonts or what text you can include.

Using the latest technology to give you high-resolution card and sticker printing

We always use high-end modern methods and technology to give you stickers and cards of high resolution and color depth.

With our range of customizable loyalty card printing solutions, you can easily improve the quality of printing. There is a range of items that we believe play a crucial and important role in choosing the color type, font selection, shape and size of the cards, and other stuff that can play a crucial role in determining the marketing and branding success of your stickers and cards.

Use our services or branding and marketing your products

We are not only a company providing printing solutions for industries and organizations but also cater and suggest ways to improve their marketing and branding techniques.

With our experienced marketing experts, you will be able to have the best suggestions on how to design stickers, cards, pamphlets, and a range of other items that can help you bring more customers.

We are masters of catchy texts, designs, and fonts for your cards, stickers, and other stuff that will surely help the customer recognize your brand easily.

We help you with complete advisory solutions on how to allocate your budget on printing various materials such as stickers, cards, banners, posters, and other stuff for the right marketing mix for your targeted customer segment.

Faster printing and meeting your deadlines

We have the best technology in our company to help you print a bulk volume of stickers, loyalty cards, and other stuff to a wide range of people. We understand that when it comes to marketing and branding there are various deadlines to be met for which you need your orders to be printed within the deadline date.

And be rest assured that with our responsible team looking after your bulk printing order you will get your entire order of sticker printing delivered to your company.

Cheap and affordable costs for printing

We also have the rates for bulk printing substantially lower than the other market players. With us, you will be getting a complete quotation from us based on your type of printing such as cards, stickers, etc., and the order volume. 

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Importance of Client Reviews

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Importance of Client Reviews

About 95% of customers read reviews before making a purchase. Over 90% will read reviews of local businesses to determine their quality.

When a product generates five reviews, the likelihood of a purchase increases by 270%.

Client reviews can help you generate brand awareness, trust, and loyalty. That’s only the start. Keep reading to discover the seven reasons to get client reviews for your business.

By understanding the importance of client reviews, you can make a better decision for your business.

Read on to discover why you need client reviews today!

1. Improve Your SEO Ranking

Search engine optimization (SEO) can help your website rank higher on Google and other search engines. Without SEO, consumers might visit a competitor’s website instead. You can improve your search engine ranking with client reviews.

Google looks for customer reviews when determining rankings. You can prompt consumers to leave reviews on your Google My Business listing. People will start to see you as a credible resource in the industry as a result. 

Your Google My Business listing displays customer reviews and a link to your website. Someone can read reviews, decide to give you a try, and visit your site.

As you generate more website traffic, your search ranking could rise. A higher search engine ranking can help you:

  • Generate brand awareness
  • Boost brand trust and loyalty
  • Establish your credibility in the industry
  • Boost website traffic
  • Generate leads, sales, and conversions
  • Improve your ROI

Google’s search engine algorithm uses ranking signals to determine your position on search pages. It looks at the quantity, velocity, and diversity of your reviews.

Quantity indicates how many reviews you’ve gathered. Velocity refers to how quickly you receive reviews. Diversity means you’ve generated reviews from different sources.

The sooner you start generating fresh reviews, the better!

2. Generate Brand Awareness

Consumers might not trust your business if they’ve never heard of you before. Generating online exposure is one of the big reasons to get client reviews.

As people read your reviews, they’ll learn more about your business. If people only have nice things to say about your brand, they might decide to give you a shot. They’ll visit your website to learn more about your business.

In addition to generating brand awareness, you can also boost brand recognition.

Consumers will recall reading your reviews in the future. The next time they need your product or service, they’ll remember your brand. They might decide to go straight to your website as a result. 

3. Learn About Your Customers

It’s difficult to make informed changes to your business if you don’t understand the customer’s point of view. Client reviews can help you gather helpful insights. You can determine what’s causing people frustration when they encounter your brand.

For example, you might find people are struggling to use your eCommerce store. If they go frustrated with your website and leave, you’ve lost a sale!

Maybe people are frustrated with your customer service.

Either way, you can learn about the problems your customers are experiencing with your brand. Then, you can start making informed changes to your business. Making these changes will show customers you care about their experience.

They’ll see the effort you’re willing to make and come back to more.

Don’t delete the negative reviews you receive. Instead, use them as an opportunity. Apologize for what happened and make an effort to mend the relationship.

Otherwise, customers might think you’re unwilling to change. 

4. Remain Transparent

It’s more important now than ever to remain transparent with customers. Otherwise, they might struggle to trust your business. If they find you’ve hidden something, they might turn to your competitors instead.

Your brand’s reputation could plummet as well.

Transparency is one of the big reasons why you need client reviews. You can respond to their positive and negative reviews to provide the answers they’re looking for. If they have questions or concerns, you can show customers you’re there to help.

They’ll see your honesty and learn to trust you, even after a difficult experience. 

5. Generate Website Traffic

If you’re struggling to generate traffic to your website, you could also struggle to generate leads and sales. Discovering the importance of client reviews could help. Gathering reviews can help you generate more foot and website traffic.

After reading your reviews, people might want to learn more about your business. They’ll visit your website and explore your content.

Remember, generating more website traffic can boost your search engine ranking. A higher ranking will position you in front of even more customers.

Google will see that you’re a credible resource within your industry as you gain more traffic. It could boost your ranking even more as a result.

Once people visit your website, you can start converting visitors into leads and sales. 

6. Build Brand Trust

Over 80% of consumers trust online reviews as much as a recommendation from a friend. You can use client reviews to build brand trust and loyalty.

Consumers can read your reviews to learn more about your business. They’ll feel like they can trust your brand after reading reviews. If they know nothing about your business, however, they might struggle to trust you. 

Remember to remain honest and transparent with your customers. Hiding problems could hurt your ability to build brand trust.

7. Boost Your ROI

Client reviews can help you improve your ROI, too.

As you generate brand trust and more website traffic, people might decide to give your business a try. They could contact you via a form or make a purchase on your online shop. 

If those customers have a positive experience, they might feel inclined to leave their own reviews. Then, you can reach even more customers. Meanwhile, your online credibility will continue to grow.

Your ROI will rise, setting your business up for growth and success. 

5 Stars: 7 Reasons to Start Gathering Client Reviews

Don’t miss a chance to boost your business. Instead, keep these seven reasons to get client reviews in mind. By generating more reviews, you can set yourself up for growth and success.

Searching for more helpful guides and tips? We’re here to help.

Explore our latest articles today to get started.

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How To Buy Views For Your YouTube Videos

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When buying views for your YouTube videos, you need to take into consideration the quality of the chosen audience in terms of viewer engagement, turnaround time, efficiency, and even money-back guarantees. The easiest way to check all these is to read reviews written by those who have tested all these programs and can share their experience.

Bonus Tip: Always seek for “high retention views” – these are views with relatively longer duration and they can help boost your search engine rankings.

1. The Marketing Heaven is a user-friendly seller of YouTube views. You simply need to add the link to your video, pick the number of views you want to get and choose whether or not you also want likes and how many of them. Even though it is the easiest to use, the Marketing Heaven has the drawback of being more expensive than the other two options, however what it offers is vastly superior.

However, when you weight up the quality of what is on offer when compared to the others you really do get what you pay for and this makes it the best available option in our opinion.

2. BuyViews

BuyViews is the second-best option for those who need YouTube views. They offer standard packages, as well as cool promotions every now and then. Their retention rate is quite good and their services also come with a money-back guarantee. The reasons why we consider DEVUMI to be better are the relatively worse turnaround time of BuyViews and the fact that they don’t guarantee the retention rate.

3. 500Views

500Views provides a wide range of services such as YouTube views, likes, subscribers and comments. Their ad-ons system is extremely intuitive. Nevertheless, they fall behind the top three choices when it comes to quality, engagement, retention and customer support. You should expect to wait at least one week to see noticeable results.

4. Social Shop

Social Shop has an interesting array of packages. Their micro package allows you to buy 1000 views for only $2. Their largest package delivers you one million views for $999. They have a turnaround time of two days, which is not too shabby when you consider their wide range of options. Their biggest drawback is the lack of proper customer support. Also, they don’t deliver likes, comments or subscribers.

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