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We were really fortunate to have Lux Anantharaman, the Lab Head of Business Analytic Translation Centre (BATC) of A*Star. He shared with us his views on personalise pricing based on big data.
Big Data consumer analytics enables personalised marketing by better understanding consumer needs and aspirations. Instead of being bombarded with irrelevant ads, you get to see targeted and relevant ads and promotions. The next step, as a result of such personalised targeting, is personalised pricing, where you might pay different prices for the same product. In this talk, Lux from the Institute for Infocomm Research explained the concept of personalised pricing, its legality and ethical issues, and what to look out for when shopping online.
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