Executives should understand what data tells them about the present – and the future
Data can tell you a lot about the current state of business, and what the future holds. That’s information that companies can use to make strategic decisions, and it is multiplying quickly. Up to 90 per cent of all data was created in the past two years alone. To leverage, Prof.
High margin impulse buys can help retailers boost profits
The check-out counter is the last place paying customers visit before they leave the store – and it is a retailer’s last chance to make a sale. The counter and the aisles that lead up to it are called a cash wrap, and can be arranged to entice customers to made additional purchases. A good cash wrap should incentivize impulse buys without being pushy, according to Prof.
Tech companies are doing more international hiring – and paying engineers top dollar
Technology has long had the capability to enable work from anywhere that has a solid internet connection – but many companies haven’t been willing to use it that way. Even tech companies that create the tools for remote work have tended to concentrate their workforce in major tech hubs like Silicon Valley and Seattle.
In-store shopping technologies can replicate the ease of online shopping
Standing in a check-out line is the least pleasant part of the shopping experience – and it could become a thing of the past. New technology is allowing shoppers to make in-store purchases with their phones, and a variety of self-checkout pilot projects are already underway at stores in Montreal. Some are as simple as scanning a QR code, and confirming your credit card information.
Prof. Maxime Cohen lands new role
Canada’s largest integrated network of medical clinics is using technological innovation to improve the patient-physician experience, and Bensadoun School of Retail Management Prof. Maxime Cohen will help them do it. ELNA Medical recently announced that Cohen will be their first Chief Artificial Intelligence Officer.
Prof. Maxime Cohen to develop AI systems in healthcare
Congratulations to Professor Maxime Cohen, Desautels’ Scale AI Chair in Data Science for Retail, on his recent appointment as ELNA Medical’s inaugural Chief Artificial Intelligence Officer. In his new role, Cohen will leverage AI methodologies to improve health access and outcomes at primary and specialty care clinics across Canada.
Professor Maxime Cohen Launches New Book
Professor Maxime Cohen’s new book, Demand Prediction in Retail – A Practical Guide to Leverage Data and Predictive Analytics, co-authored with Arthur Pentecoste, Paul-Emile Gras and Dr. Renyu Zhang, demystifies how predictive analytics can be used in a retail context.
Desautels professor named top retail influencer in 2022
Congratulations to Professor Maxime Cohen for making Rethink Retail’s list of Top Retail Influencers of 2022 in the academia category. Recognized for his groundbreaking leadership as co-director of McGill’s Retail Innovation Lab, Professor Cohen is making a name for himself at the forefront of retail transformation.
Making investing more transparent
In a new paper, Professor Maxime Cohen and his colleagues push for IPOs to adopt “triggered disclosures” instead of one-size-fits-all disclosures about their operations. Although currently voluntary, mandatory triggered disclosures would maintain company privacy while setting a precedent for greater transparency with investors.
Solving for the economic impact of Airbnb rentals
In a new paper, Professor Maxime Cohen and his colleagues find that rental platforms like Airbnb help increase real estate investment and economic development in the long term. While jurisdictions like New York City have issued city-wide bans on these short-term rentals, primarily due to housing shortages, the researchers recommend establishing guidelines that meet community needs on a more local basis.
Finding solutions for fair, online pricing
With e-commerce here to stay, dynamic pricing algorithms are adjusting what individual consumers pay for their items online using a complex system of price comparisons and purchase histories.
In-store technology is transforming retail spaces
Throughout the pandemic, in-store technologies like price-check kiosks and self-checkout have created a more convenient shopping experience for consumers and provided retailers with greater access to valuable data on shopping habits. But consumers are concerned about privacy, and retailers may not have the necessary resources to purchase and upkeep in-store tech.
How to reform tax opportunity zones
Professor Maxime Cohen joins Boston College’s Dmitry Mitrofanov to weigh in on tax opportunity zones in the U.S. Designed to generate cash flow in lower-income areas, opportunity zone programs have proven useful for both residential and corporate real estate developers. On the other hand, these programs would benefit from clearer metrics and more adaptable protocols for identifying communities in which to invest.
The pace of technological innovation picks up in Canada’s retail sector
The retail innovation lab at the Bensadoun School of Retail Management is redefining the way technology and consumer behaviour impacts the retail experience. Professor Maxime Cohen and Charles de Brabant reflect on the push for a safer, more frictionless experience in the wake of the COVID-19 pandemic.
McGill professors create AI-powered tool to monitor supply and demand of essential goods
Desautels professors Maxime Cohen and Warut Khern-am-nuai are the brains behind a new technology that monitors the supply of essential goods at grocery stores.
