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Detailed text transcripts for TV channel - MSNBC - 20140426:09:36:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20140426:09:36:00

It's almost 50% of a difference between you are on the exchange men yu versus when you're not. >> the sales for the items part of the drink exchange were so much higher than anything else that their liquor distributor caught word and wanted to feature some items to make sure they were being sold. >> brilliant. it's a great example of rethinking the data that you have available to you. and how you might use that. in this case to make more money. >> as more distributors asked to have theirs listed on the exchange, frank and todd started to see the game in a new light. >> we found you can pretty ...

Detailed text transcripts for TV channel - MSNBC - 20140426:09:35:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20140426:09:35:00

Determined by algorithms tied into the bar's point of sale system. >> the point of sale system is a data collection system. what the changing is the ability to open up the black box of that data and combine it with other data sets that you might have. >> with real time sales data driving price changes, the game often leaves customers to choose the bargain drinks who. >> it may drop the price of a tequila shot. so all of a sudden people start buying so we created a system for bar owners to get the most out of the products. >> and that is not the only way this game can influence customer choices...

MSNBCW Your Business April 26, 2014 - Vimarsana News

MSNBCW Your Business April 26, 2014

hi there everyone. i'm jj ramberg. welcome to "your business." data, for any one who is not into crunching it sounds like a scary word and sounds like something for big companies with big budgets. you know what, it is not. we all have information hidden in the data we're collecting on customers and it's a matter of figuring out how to look at it and what to do with it. we found a corner bar in san diego that has done a great job at both collecting data and then acting on what they learned. just a little research has resulted in a big increase in revenue. >> here in san diego's famous...