Monday, 26 February 2018

On-line prices based on customers’ habits, Big Data and algorithms


When you buy an airplane ticket or a DVD online, you may pay a higher -- or lower -- price than another customer buying the very same item from the very same site.Why? Because the information the site has compiled on you suggests that you may be willing to pay more -- or less -- than others for that item. Is this kind of "price customization" legal? The Internet allows shoppers to easily compare prices across thousands of stores. But it also enables businesses to collect detailed information about a customer's purchasing history, preferences, and financial resources -- and to set prices accordingly. More here.

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