Episode description

In this conversation, Rochelle Thielen emphasizes the critical role of real-time data in developing effective pricing strategies. She discusses how businesses must adapt quickly to customer expectations and market trends to remain competitive.

Takeaways

• Real-time data is essential for effective pricing strategies.
• Businesses should aim for a deep understanding of customer expectations.
• Data analysis should be conducted frequently, ideally in real-time.
• The 24-hour data limit is outdated for top-tier businesses.
• Understanding market trends is crucial for pricing decisions.
• Companies need to be proactive rather than reactive in their pricing.
• Customer insights can lead to more effective pricing strategies.
• The speed of data analysis can impact business success.
• Real-time insights can provide a competitive edge.
• Adapting to customer needs quickly is vital for growth.

Sound Bites

• "Understanding of what customers are expecting to see."
• "It should be so much quicker up to real time."

Chapters

00:00
Introduction to Traject Data and Rochelle's Background

06:36
Human Oversight in AI Systems

14:54
Trends in Retail Data Usage

21:48
AI Democratization for Small Merchants

27:39
Popular Products and Closing Thoughts