Comments on: Use Predictive Models to Lower Risk Profile of Media Companies http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/ Blog on all things interesting! Wed, 27 Jan 2010 20:53:54 -0700 http://wordpress.org/?v=2.9.1 hourly 1 By: Why is the Music Business So Difficult? | Tech Mediums http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/comment-page-1/#comment-153 Why is the Music Business So Difficult? | Tech Mediums Mon, 16 Jun 2008 22:56:30 +0000 http://techmediums.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/#comment-153 [...] core facts to build a sustainable business.  That’s why I wrote about the potential for using predictive models in developing a business model for entertainment [...] [...] core facts to build a sustainable business.  That’s why I wrote about the potential for using predictive models in developing a business model for entertainment [...]

]]> By: Sekou (Koe) Murphy http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/comment-page-1/#comment-145 Sekou (Koe) Murphy Mon, 16 Jun 2008 13:47:33 +0000 http://techmediums.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/#comment-145 That's a good question. If anyone knows, let me know. But my guess is that you can (as long as it's not based on the presume characters...sex, age, race, religion). So for example, the Xbox 360 came out at a high price b/c Microsoft knows that there are certain people, who are early adopters, will pay more to be the first. Then a few months later, it drops the price to sell more units to the masses. That’s a good question. If anyone knows, let me know. But my guess is that you can (as long as it’s not based on the presume characters…sex, age, race, religion).

So for example, the Xbox 360 came out at a high price b/c Microsoft knows that there are certain people, who are early adopters, will pay more to be the first.

Then a few months later, it drops the price to sell more units to the masses.

]]> By: CarolB http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/comment-page-1/#comment-144 CarolB Sun, 15 Jun 2008 05:55:01 +0000 http://techmediums.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/#comment-144 Oran117, that's true, but I think every other business can make the same case, right? So Best Buy, using intuition, can decide what items to put on sale. But using predictive models, they can possibly increase their traction by determining the highest online shopping days, what product tie-ins work best (if you bought X for full price, you can also get Y for 1/2 off) or what items s/b on sale. Btw - I wonder if you can give some people sale prices and other not? Is that legal??? Oran117, that’s true, but I think every other business can make the same case, right? So Best Buy, using intuition, can decide what items to put on sale. But using predictive models, they can possibly increase their traction by determining the highest online shopping days, what product tie-ins work best (if you bought X for full price, you can also get Y for 1/2 off) or what items s/b on sale.

Btw – I wonder if you can give some people sale prices and other not? Is that legal???

]]> By: Oran117 http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/comment-page-1/#comment-143 Oran117 Sat, 14 Jun 2008 19:28:45 +0000 http://techmediums.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/#comment-143 I don't think some media companie scan use this b/c of cost benefit...it might be cheaper to use intuition, even if you factor in the risk. Like you pointed out, some people are better at this than others. I don’t think some media companie scan use this b/c of cost benefit…it might be cheaper to use intuition, even if you factor in the risk. Like you pointed out, some people are better at this than others.

]]> By: Larry http://phrenzie.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/comment-page-1/#comment-142 Larry Tue, 10 Jun 2008 17:53:14 +0000 http://techmediums.com/2008/06/10/use-of-predictive-algorithms-to-lower-risk-profile-of-media-companies/#comment-142 What I'm wondering about is how offline companies make use of predicitve models that seem to be better suited for online. What I’m wondering about is how offline companies make use of predicitve models that seem to be better suited for online.

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