Consumers may search online for 30 days, but buy close to what they found on the first day
CATONSVILLE, MD, September 2, 2016 – Given the ease of online search, consumers can explore and discover hundreds of available items in any category. Retailers and advertisers are keen to influence the search and final purchase through better product recommendations and targeted advertising. A forthcoming article in the INFORMS journal Marketing Science studies online search and purchase behavior of consumers in the digital camera category and finds that even though consumers may search for extended periods of time, what they purchase tends to be remarkably close to items they searched and found in their very first search.
Tweets better than Google Trends at forecasting TV program ratings
CATONSVILLE, MD, August 1, 2016 – How well does the emotional and instantaneous content in tweets perform relative to the more deliberate searches recorded in Google Trends in forecasting future TV ratings? In a massive big data analysis using data from Twitter, Google Trends and other widely used websites for entertainment information, a forthcoming article in the INFORMS journal Marketing Science finds that mining Twitter content is significantly more effective than Google Trends in its ability to predict future TV ratings.
Are there better deals than the “Minimum Advertised Price?” More often than you think.
CATONSVILLE, MD, June 10, 2016 - Certain products like Bose headphones and Sonos speakers never seem to be advertised below a certain price. That is because many manufacturers insist on a minimum advertised price (MAP) for their products. Ever wondered if it is worth searching for a lower price for such products? Using data from manufacturers across a range of industries, a forthcoming article in the INFORMS journal Marketing Science finds that it may actually pay to search as prices below the MAP are fairly common not just across unauthorized retailers, but even across authorized retailers.
Is my brand image green or healthy? No need for costly surveys, just ask Twitter!
CATONSVILLE, MD, April 18, 2016 – What do Toyota, Aveda, and Clif Bar have in common? A forthcoming article in the INFORMS journal Marketing Science finds that Twitter fans of these brands are all more likely to follow accounts that tweet about the environment. This in turn creates a greener image than other brands in their sectors.
General Motors Awarded 2016 INFORMS Prize for Operations Research
ORLANDO, Fla., April 12, 2016 – The Institute for Operations Research and the Management Sciences (INFORMS®), the leading association for analytics professionals, announced that General Motors, which is using big data and advanced analytics to predict failure of certain automotive components and systems before customers are affected, is the winner of the 2016 INFORMS Prize for operations research and management science.
INFORMS® Awards UPS Its 2016 Edelman Prize: The Leading Award in Analytics and Operations Research
ORLANDO, FL, April 11, 2016 – The Institute for Operations Research and the Management Sciences (INFORMS®), the leading association for analytics professionals, announced it has awarded UPS its 2016 Franz Edelman Award for Achievement in Operations Research and the Management Sciences.
The Future of Innovation through Analytics and Operations Research to Converge in Florida this April
ORLANDO, FL, March 17, 2016 – Nearly 1,000 of the leading minds and visionaries in the fields of analytics and operations research will converge in Orlando, Florida, April 10-12 for a unique conference dedicated to mastering business analytics strategies and tactics that drive innovation and benefit society in new and exciting ways.
No Credit History? New Study Says No Problem
CATONSVILLE, MD, March 15, 2016 – When it comes to getting a loan – even for those without a credit history – it helps to have financially responsible friends on one’s social network, according to a new study forthcoming in the INFORMS journal Marketing Science.
New Research Finds Double-Digit Growth For Firms That Create Own Online Communities
CATONSVILLE, MD, April 28, 2015: A new study published in Marketing Science reveals that double-digit revenue growth accrues to firms that create brand-specific own online communities. The study, titled “Social Dollars: The Economic Impact of Customer Participation in a Firm-Sponsored Online Customer Community,” was conducted by professors Puneet Manchanda at the University of Michigan, Grant Packard at Wilfrid Laurier University, and Adithya Pattabhiramaiah at Georgia Tech.
New Study Finds Most Firms Do Not Use Skimming or Penetration Pricing for New Products
A new study finds that most firms do not use a Skimming or Penetration Strategy to price new products. The study will be published in Marketing Science, and is titled, “Skimming or Penetration? Strategic Dynamic Pricing for New Products”. The research was conducted by Martin Spann, professor at Ludwig-Maximilians-University Munich (Germany), Marc Fischer, professor at the University of Cologne (Germany) and the University of Technology Sydney (Australia), and Gerard J. Tellis, professor at the Marshall School of Business, University of Southern California.
New Study Finds Customers who Binge Consume are More Valuable
Marketing managers traditionally segment customers by three summary measures: recency – how long since their last visit, frequency – how often they visit, and monetary value – how much they spend on a visit (also known as the RFM model). An upcoming Marketing Science paper by Yao Zhang, Eric Bradlow and Dylan Small shows that in contrast to this traditional segmentation, one based on “binge consumption” is worth more in the long run. Binge consumption is characterized by bursts of heavy buying interspersed by little or no buying. The authors call this pattern of consumption “clumpiness.”
Do Extended Warranties Really Benefit Consumers?
CATONSVILLE, MD, January 31, 2015 – Retailers selling home appliances and electronics goods typically make 15-20 percent profit from these products but realize more than 200 percent profit from selling extended warranties for these products. A new study that appears in the January issue of Marketing Science, a publication of the Institute for Operations Research and the Management Sciences (INFORMS), finds that even though selling warranties through independent firms will lower extended warranty prices, the consumers may actually be worse off.
UPS George D. Smith Prize Finalists 2016
CATONSVILLE, MD, February 24, 2016 – The Institute for Operations Research and the Management Sciences (INFORMS®) today announced three finalist schools in the competition for the UPS George D. Smith Prize, an award created to strengthen ties between academia and industry. The award recognizes excellence in preparing students to become practitioners of analytics and operations research.
Education Resource Library
INFORMS Education Resource Library Helps Students, Businesses, and University Faculty and Administrators in Decision-Making about Analytics Education and Talent
CATONSVILLE, MD, February 23, 2016 – Students searching for the right analytics graduate program, business people seeking to hire analytics talent, analytics professors developing syllabi, and deans developing analytics programs have all shared one common challenge – a lack of a unified and comprehensive way to find data sets and problems and research the rapid changes, offerings, and opportunities in analytics education. Until now.
Crowdedness and Mobile Apps
Riders in crowded subway trains are good targets for mobile advertising
CATONSVILLE, MD, February 10, 2016 – What do irritable, squished riders on a crowded subway train do? According to a forthcoming study in the INFORMS journal Marketing Science, they often immerse themselves in their mobile phones to escape the crowd, and that they shop and buy more in response to mobile ads in the crowded train.
Small Price Differences are Highly Effective in Shifting Demand to Healthy Low Calorie Alternatives, New Study in INFORMS Journal Finds
CATONSVILLE, MD, December 21, 2015 – Small price differences at the point of purchase can be highly effective in shifting consumer demand from high calorie to healthier low calorie alternatives, according to a study in the Articles in Advance section of Marketing Science, a journal of the Institute for Operations Research and the Management Sciences (INFORMS).
2016 Edelman Finalist Announcement
CATONSVILLE, MD, December 14, 2015 – INFORMS, the largest international association of professionals in analytics and operations research, announced today that six expert teams from around the world have been selected to participate in its 2016 Franz Edelman Award competition, which recognizes outstanding examples of real-world advanced analytics and operations research projects that are transforming industries, companies, and people’s lives.
Analytics and Mobile Devices
CATONSVILLE, MD, November 17, 2015 – Researchers have found a privacy-friendly way to connect the same and similar mobile users based on examining location visitation data, thus allowing e-marketers to target the smart phones and mobile devices of the same person and of those with related interests, according to a new study published in Information Systems Research, a journal of the Institute for Operations Research and the Management Sciences (INFORMS).
Wagner Prize 2015 CDC GA Tech Emory
Pointer to Designing a Universal Flu Vaccine
PHILADELPHIA, PA, November 4, 2015 – The Institute for Operations Research and the Management Sciences (INFORMS®), the leading professional association in analytics and operations research, today announced that the winner of the Daniel H. Wagner Prize is a team comprising researchers from the CDC, Georgia Tech, and Emory University for creating a model that uses genetic signatures to predict the efficacy of vaccines on an individual by individual basis.