Seminar Abstract:
Pricing, although one of the most critical management functions, remains one of the most misunderstood and undermanaged functions at many companies that are otherwise high performers. Very small changes in average price translate into huge changes in operating profit. This presentation provides an overview of pricing science at Zilliant Inc. The emphasis is on price segmentation. It is successfully achieved along with three dimensions: customer dimension, product dimension, and order dimension. This presentation also explains the complete work flow of pricing science, which includes the following six steps:

• Data Cleansing
• Hypothesize segmentation variables and decision variables
• Segmentation
• Dynamic Data Aggregation
• Price Optimization
• Price Validation

Speaker's Bio:
Xingchu Liu is currently working as a Pricing Scientist at Zilliant Inc., a leading software firm in pricing management. He received two Bachelor degrees in Industrial Automation and Business Administration, and a Masters degree in Automatic Control from Tsinghua University in China. In 2005, he received his doctoral degree in Industrial and System Engineering at Texas A&M University.