Five Digital Marketplaces Utilizing Algorithmic Design

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Delivery services, such as Foodler, GrubHub and Seamless in major metropolitan cities, have exponentially expanded a restaurant's clientele and serving radius. A new innovative model has been introduced, which brings the best of three components together for food – fast, cheap and healthy. SpoonRocket and Sprig are redefining fast food with super fast delivery by taking control of the cooking.

Digital marketplaces are some of the hardest businesses to build and, not surprisingly, are becoming increasingly more complex as customers' demands and expectations grow. Savvy innovators across many industries are now changing traditional business models and creating new marketplaces built on advanced algorithms and technologies.

Advanced algorithms use mathematical models for determining transactions between buyers and sellers. The algorithms factor in a number of different variables – such as location, availability and price – to ultimately provide the best outcome for both parties involved. This slideshow features five industries that are ripe for the use of algorithmic design, as well as vendors spearheading the action in those marketplaces.

 

Related Topics : SharePoint, Web Video and Voice Conferencing, UK, MySpace, Intranets

 
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