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#84: AI for decision making, with Felix Hoffmann
Episode Notes
Felix Hoffmann, CEO of 7Learnings, discusses how AI-driven decision automation is transforming retail and the workplace. He explains the practical applications of AI in pricing, marketing, and decision-making, emphasizing the benefits of reducing decision fatigue and enhancing transparency.
Our Guest: Felix Hoffmann
Felix Hoffmann, born in 1984, is co-founder and CEO of 7Learnings. With 7Learnings, he has set himself the task of offering brands and retailers the best method for optimizing prices, marketing, and purchasing decisions in order to increase their profitability.
7Learnings offers an AI- based solution that can predict alternative pricing scenarios and thus proactively find the ideal price. Until now, rule-based pricing ("if-then") has mostly been used. Predictive pricing, on the other hand, incorporates numerous internal data points such as product data, price history, costs, marketing and inventory data, as well as external data such as weather, seasonality, and competitor prices. As a result, 7Learnings achieves average sales increases of ten percent for its customers.
The 7Learnings solution can also be applied to other processes in retail, optimizing purchasing and marketing, for example, by linking data points and optimizing costs. Felix Hoffmann has been working on price and marketing optimization for more than 15 years. Before founding 7Learnings, Felix Hoffmann was responsible for the global algorithm for price optimization as product owner at Zalando. Prior to that, he worked as a pricing consultant at A.T. Kearney for six years. Felix Hoffmann lives in Berlin and enjoys playing beach volleyball in his free time.
References:
Felix Hoffmann Linkedin profile
7learnings.com
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Episode Notes
Felix Hoffmann, CEO of 7Learnings, discusses how AI-driven decision automation is transforming retail and the workplace. He explains the practical applications of AI in pricing, marketing, and decision-making, emphasizing the benefits of reducing decision fatigue and enhancing transparency.
Our Guest: Felix Hoffmann
Felix Hoffmann, born in 1984, is co-founder and CEO of 7Learnings. With 7Learnings, he has set himself the task of offering brands and retailers the best method for optimizing prices, marketing, and purchasing decisions in order to increase their profitability.
7Learnings offers an AI- based solution that can predict alternative pricing scenarios and thus proactively find the ideal price. Until now, rule-based pricing ("if-then") has mostly been used. Predictive pricing, on the other hand, incorporates numerous internal data points such as product data, price history, costs, marketing and inventory data, as well as external data such as weather, seasonality, and competitor prices. As a result, 7Learnings achieves average sales increases of ten percent for its customers.
The 7Learnings solution can also be applied to other processes in retail, optimizing purchasing and marketing, for example, by linking data points and optimizing costs. Felix Hoffmann has been working on price and marketing optimization for more than 15 years. Before founding 7Learnings, Felix Hoffmann was responsible for the global algorithm for price optimization as product owner at Zalando. Prior to that, he worked as a pricing consultant at A.T. Kearney for six years. Felix Hoffmann lives in Berlin and enjoys playing beach volleyball in his free time.
References:
Felix Hoffmann Linkedin profile
7learnings.com
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