There are three major levers an organization can pull to maximize revenue and increase profit:
Yet media companies continue to spend significantly more time and energy trying to cut costs and increase sales volume than by calculating optimal rates.
By using data science and AI (artificial intelligence) to automate optimal pricing, you can increase efficiency, revenue and profit.
" ... the single most important decision in evaluating a business is pricing power. If you've got the power to raise prices without losing business to a competitor, you've got a very good business. And if you have to have a prayer session before raising the price by a tenth of a cent, then you've got a terrible business. I've been in both, and I know the difference."
- Warren Buffett
Furious was founded in 2014 by Ashley Swartz who had a background in manufacturing but had moved to media, and Hilel Rom, a former NASA rocket scientist who had started his own company building in-game video game advertising.
Ashley’s time in manufacturing was spent implementing ERP systems— enterprise resource planning—software that tracks a company’s core business functions and activities in one application that continually updates and shares data across departments. These ERP systems increase visibility, eliminate confusion and mistakes, and create efficiencies that save time across an organization. When she moved into media, she realized that sellers of inventory, particularly in television, had nothing like these systems. Media companies rely on old, legacy traffic systems and spreadsheets to price and manage their inventory in a multibillion-dollar industry. While most other sectors and businesses were using technology to connect systems and infuse decision-making with data and analytics, TV was stuck making pricing decisions based on little more than gut instinct and emotion, using remarkably little hard data.
She and Hilel posited that by harnessing the power of television sales data and applying data science, they could positively impact revenue by:
Let us show you how the power of data and data science can be used to increase revenue, create efficiencies for your sales and pricing teams, and make your ad sales business thrive.
Discover how a partnership with Furious could increase your bottom line.