ROSEVILLE, CA & HANOVER, NH – MARCH 29, 2011 –Revionics, Inc., a leading provider in retail life cycle price optimization solutions, today announced that Jeff Smith, founder and executive vice president, will be speaking at the Tuck School of Business at Dartmouth. He will be speaking to students in the Retail Pricing Strategies and Tactics class taught by Professor Praveen Kopalle on Tuesday, May 3, 2011.
“In this course, we study both the strategic and tactical aspects of retail pricing decisions. Jeff brings a wealth of practical retail business experience to our classrooms,” commented Praveen Kopalle, professor of Marketing, Tuck School of Business at Dartmouth College. “Jeff was one of the founders of KhiMetrics, the first company to productize price optimization science, and he has dedicated the last 13 years to refining the discipline. He is truly a pioneer in the science of price optimization.”
Educating and mentoring the next generation of business entrepreneurs is central to Revionics’ core values. Smith has spoken multiple times at Professor Kopalle’s retail pricing classes at Tuck. For this presentation, Smith will be detailing price optimization business applications, and conducting a live demonstration of Revionics’ Life Cycle Price Optimization solutions which include base price, promotion, and markdown optimization.. The demonstration will highlight the value of usability and transparency of price recommendations, and how “what if” simulations can be used effectively to reach the optimal price strategy.
The course is quantitative in nature and considers the role of consumer behavior, economics, statistics, and management science in determining pricing policies. Students study demand function models, optimization, and dynamic programming techniques to arrive at optimal pricing strategies. This course examines how pricing policies should be set and compares them with what happens in the real world.
“Speaking in Professor Kopalle’s class at Tucks is a rare opportunity to exchange ideas with young entrepreneurs,” said Jeff Smith, founder and executive vice president, Revionics, Inc. “It’s inspiring to share my knowledge with such bright students, and hear their perspectives on consumer behavior and the retail environment.”
With over 23 years of experience in the software industry, Jeff Smith has dedicated the last 13 years toward creating and improving price optimization. He was a founding member of KhiMetrics, the first company to productize the price optimization science, where he helped to create the retail price optimization industry from a sales, marketing, and product development perspective. With many years of sales and pre-sales experience, Smith has managed software development teams; worked closely with clients during beta and installation phases; led worldwide product marketing teams; and performed software development tasks. Most recently, Jeff founded Revionics to build the next generation of pricing optimization solutions designed for widespread adoption by retailers of all sizes.
Revionics Life Cycle Price Optimization Enables the Intelligent Retailer
Retailers require sophisticated, scalable tools to help them plan, execute and measure their pricing strategies. Shopper-centric pricing compels a retailer to understand how consumers are behaving by store, and how they shop by item.
Revionics’ innovative “Optimize with Confidence” approach, which is based on providing the industry’s most usable science and transparency on one platform, drives unparalleled confidence in price recommendations which accelerates adoption and ROI (return on investment). Usable science integrates and balances a retailer’s pricing rules, strategies, and operational policies with optimization science to deliver smarter pricing that aligns with category business plans and strategies. Price transparency provides visibility into the “why” behind recommendations. The Revionics technology leverages advanced science and an integrated forecast on one platform, enabling a coherent view of customer demand across all decision areas, including base, promotion and markdown pricing.
About the Tuck School of Business at Dartmouth College
Founded in 1900, Tuck is the first graduate school of management in the country and consistently ranks among the top business schools worldwide. Tuck remains distinctive among the world's great business schools by combining human scale with global reach, rigorous coursework with experiences requiring teamwork, and valued traditions with innovation.
About Revionics, Inc.
Revionics delivers innovative lifecycle price optimization solutions to retailers, including base, promotion, and markdown pricing. The Revionics technology leverages an integrated forecast, enabling a coherent view of customer demand across all decision areas. Our proprietary approach, Revenue Bionics™, applies advanced analytics and science to predict customer behavior, empowering retailers to achieve their financial objectives, improve customer loyalty, and make better, faster decisions. Our solutions are delivered on a modern, fully scalable, pay-as-you-go, software-as-a-service platform. Over 20,000 retail locations across grocery, automotive, drug, building materials, convenience, general merchandise, and discount stores are priced using Revionics solutions. For more information, please visit www.revionics.com.