Price Elasticity 2.0: From Theory to The Real World
Price elasticity theory was once the haunt of classical economists, with loose applications in the real world. Today, companies such as Uber, with its sheer volume of data and surge algorithms, are able to continuously triangulate price elasticities in real time to manipulate demand, moment-to-moment.
This article introduces the fundamentals of price elasticity of demand theory before taking us back into the real world, where theory will meet both big data and consumer psychology to create new possibilities.
Small Data, Big Opportunities
By now, most have heard of Big Data – the buzzword du jour across most business circles. In this exploratory piece, Finance Expert, Gregory Thompson, introduces us to the wonderful world of Small Data.
Specifically, he guides us through its broader market dynamics, tools, players and solutions, and includes a practical implementation guide for how small businesses might add analytics as a core-capability to their respective business arsenals.
Bridgewater's Ray Dalio: Quiet Pioneer of Big Data, Machine Learning, and Fintech
Ray Dalio is an investing legend whose success is most often attributed to investment acumen. This article argues that it was equally due to his foresight as an early but quiet adopter of computational systems, big data techniques, and artificial intelligence that resulted in his outstanding success. Bridgewater was one of the world’s earliest fintech companies.
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