How do you Successfully Commercialize Artificial Intelligence Technology? Artificial Intelligence (AI) is revolutionizing numerous industries, including healthcare. In this dynamic sector, AI streamlines tasks, enhances operational efficiency, and elevates patient care. Particularly notable is AI’s role in diagnostics, where it enables more accurate assessment and better patient outcomes. Moreover, AI integration into healthcare equipment prevents revenue losses by predicting machine failures. This aspect is crucial as these machines play an indispensable role in revenue-generating activities ..read more

Background Our client is an international fitness organization with more than 1,000 locations across the country. This fitness club offers various programs that are tailored to fulfill the requirements of the communities they serve, benefiting thousands of individuals annually. The primary focus of this study was to analyze 30+ facilities located across several key states. In past years, our client experienced year-over-year growth in membership revenue in most locations. However, when the COVID-19 pandemic hit and they were forced to temporarily close their facilities, more than 30% of this ..read more

Background Our client is a global software holding companies that operate within the transportation sector. With more than 20 companies, each business unit presented a different level of pricing maturity, challenges, and opportunities. Iris Pricing Solutions was contacted to develop a pricing workshop to educate their top leaders on best practices for setting, communicating, and capturing higher prices. The Challenge Even though our client has succeeded at maintaining and achieving price increases when acquiring a business, they recognized that they had an opportunity to better support the ..read more

Background Our client is a $50M+ professional association and one of the largest hosts of industry tradeshows in North America, attracting 50,000+ attendees. Renowned as one of the most pivotal events in the industry, vendors value this tradeshow for its outstanding influence on sales, media coverage, and overall business success. The Challenge Our client, despite achieving significant success, has identified rising costs over the years due to a lack of standardized rate settings and discrepancies in discounts compared to industry standards. Another noteworthy concern is the decreasing number ..read more

Background Our client is a $65 million association and stands as a leading organizer of construction tradeshows in North America, drawing the participation of over 2,000 vendors. Renowned as one of the most pivotal events in the industry, vendors value this tradeshow for its outstanding influence on sales, media coverage, and overall business success. The Challenge Our client, despite achieving significant success, has identified rising costs over the years due to a lack of standardized rate settings and discrepancies in discounts compared to industry standards. Another noteworthy concern is ..read more

By: Benjamin Garden, VP, Pricing Analytics In the rapidly evolving business landscape, effective price management is a critical factor in determining a company’s success. Mastering this skill involves a blend of strategic insight and adherence to ethical pricing practices, both of which are pivotal for achieving sustainable profitability and ensuring customer satisfaction. Customers recognize price gouging, shrinkflation and other tricks companies deploy to maximize profitability at the customer’s expense. In this article, discover how industry leaders deliver value while ensuring fair prici ..read more

Embark on a journey with one of North America’s largest quick-service restaurant giants, with over 3,000 franchised locations and revenue surpassing $5 billion. Fueled by strategic pricing decisions, their success faced a challenge when certain price hikes led to a dip in market share. In response, our client sought the expertise of Iris Pricing Solutions, merging pricing analytics and pricing research teams. Enter the Challenge: Eager to fortify profit margins and broaden their guest base, our client aimed to revolutionize their menu price structure. This intricate task involved regional re ..read more

In 2023, restaurants have faced a slew of challenges, from slower foot traffic to higher supply costs.  However, some restaurants and their franchisees are defying expectations and actually earning healthy profits.  How are they accomplishing this feat? Their secret weapon is pricing analytics, which is the use of data and analytics about customers, products, competitors, and other relevant factors to develop a pricing strategy.  Under the pressure of higher supply costs and slower wage growth for consumers in 2023, pricing analytics enables brands to strategically increa ..read more

By: Ed Heskins, Head of Pricing, Europe To be in business is to be in competition.  Few, if any, businesses operate in a vacuum, and even if your products and services are highly differentiated, customers will often seek alternatives to compare you with.  In this way, pricing against your competition is as challenging as it ever was. In other respects, however, the challenge today is far greater.  With the rise of eCommerce and, alongside it, dynamic pricing, consumers have never been better informed, nor better able to take advantage of differences in pricing.  And Price ..read more

By: Benjamin Garden, Vice President, Pricing Analytics In a Conference Board survey of 51% of CEOs worldwide, inflation was their second-biggest external concern in 2023 (behind only a possible recession).  In today’s age of “Big Data”, C-suite executives are eager to use data and analytics to address all of their business challenges – including inflation.  While they are certainly overflowing with data, they may not know how to make sense of it and turn it into something actionable. The best way to use data to address inflation is to use transactional data to estima ..read more