The top 20 Internet retailers changed their prices 30 times more often than their peers who had lower sales during the holiday season in 2011, according to BlackLocus, a startup that helps companies set competitive prices online. That’s a lot of price changes and through examples like this the startup shows how data is a tool, much like electricity, plastic or broadband and how you use it will define your product.
BlackLocus uses it to create a dynamic pricing environment to help retailers stay nimble and respond to the current market. The Austin, Texas-based company raised $2.5 million in initial funding last summer, and aims to help online retailers of any size keep up with their competition through a mix of data mining and analysis. The end result will bring the same pricing transparency that tools like Google Product Search (s goog) or Shopzilla have given consumers to online retailers.
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