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.
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