Five Digital Marketplaces Utilizing Algorithmic Design

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Real Estate

Usually a face-to-face industry, real estate is evolving. Suitey is leading the change through a technology-powered real estate brokerage for New York City that is able to solve asymmetric incentives between customers and agents with professional in-house brokers. Through understanding the user's behavior and search preferences, Suitey recommends properties based on a consumer's interest.

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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