Fabrizio Fantini. An algorithm for the consumer. Digital prediction
Turin, 5 October 2019
I am Fabrizio Fantini, I am 39 years old and I am the founder of a company called Evo Pricing. This company was born out of my research experience in applied mathematics on demand forecasting and pricing problems and some business experience, a master in business administration and 10 years of consulting experience with McKinsey.
In fact, we are almost pure innovation, in the sense that we bring innovation to companies for which we also continually innovate what we do and how we do it with an underlying heart that is to try to break one of the famous mysteries of human psychology which is the demand forecasting model: so, try to understand what people want, when, at what price and how and where above all.
What we actually integrate are hundreds of data signals with models that by themselves self-learn which data impact the expected demand. This is a great revolution not so much because the models are new, because in fact they are now quite consolidated tools, but because the development cost of these models has dropped dramatically with technological innovation so an innovation that has made possible another innovation, we say IT innovation, and made possible another innovation in management which in turn makes possible new and more accurate ways of responding to people’s needs.
In fact, what we do is: we develop self-learning systems from scratch that coagulate large databases by understanding which data helps to predict a certain phenomenon and then we make them available to large companies or medium-sized companies around the world that they propose very specific problems.
On the one hand there is a large amount of data, on the other hand there is a system that automatically, in an efficient and economical way, learns to connect the dots, let’s say and on the other hand there is great simplicity because there are decisions that typically they are yes, no or how much.
The machine can self-learn but it certainly cannot be self-drawn. Which problem to solve and why it is always a human decision and these machines are among other things very fragile because by changing even a little the problem changes the design of the machine a lot to solve it for which the design competence of the machine is very specialized.