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Most sales applications are characterized by competition and limited demand information. For successful pricing strategies, frequent price adjustments as well as anticipation of market dynamics are crucial. Both effects are challenging as competitive markets are complex and computations of optimized pricing adjustments can be time-consuming. We analyze stochastic dynamic pricing models under oligopoly competition for the sale of perishable goods. To circumvent the curse of dimensionality, we propose a heuristic approach to efficiently compute price adjustments. To demonstrate our strategy’s applicability even if the number of competitors is large and their strategies are unknown, we consider different competitive settings in which competitors frequently and strategically adjust their prices. For all settings, we verify that our heuristic strategy yields promising results. We compare the performance of our heuristic against upper bounds, which are obtained by optimal strategies that take advantage of perfect price anticipations. We find that price adjustment frequencies can have a larger impact on expected profits than price anticipations. Finally, our approach has been applied on Amazon for the sale of used books. We have used a seller’s historical market data to calibrate our model. Sales results show that our data-driven strategy outperforms the rule-based strategy of an experienced seller by a profit increase of more than 20%.
Modern server systems with large NUMA architectures necessitate (i) data being distributed over the available computing nodes and (ii) NUMA-aware query processing to enable effective parallel processing in database systems. As these architectures incur significant latency and throughout penalties for accessing non-local data, queries should be executed as close as possible to the data. To further increase both performance and efficiency, data that is not relevant for the query result should be skipped as early as possible. One way to achieve this goal is horizontal partitioning to improve static partition pruning. As part of our ongoing work on workload-driven partitioning, we have implemented a recent approach called aggressive data skipping and extended it to handle both analytical as well as transactional access patterns. In this paper, we evaluate this approach with the workload and data of a production enterprise system of a Global 2000 company. The results show that over 80% of all tuples can be skipped in average while the resulting partitioning schemata are surprisingly stable over time.