A platform business such as Airbnb leverages data analytics to differentiate its offer from that of competitors such as VRBO.
Answer the following statement true (T) or false (F)
True
Platform businesses can learn a great deal about their suppliers and customers by observing their search and usage patterns. Successful platform firms leverage this data to figure out how to best fill their matchmaking role in bringing together suppliers and users. Airbnb has worked to create systems that increase the likelihood that hosts will agree to offers from potential renters. The firm realizes that renters get frustrated if their rental offers are declined. Additionally, hosts will be dissatisfied if offers come from undesirable renters. Using data analytics, Airbnb analyzed when specific hosts accepted and declined offers and their satisfaction ratings of renters to develop profiles of preferred renter characteristics. Using the resulting algorithm for matching renter characteristics and host preferences, the company saw a 4 percent increase in its rate of converting offers into accepted rental matches
You might also like to view...
Members of which of the following age cohorts are part of today's senior market?
A) Generation Z B) Generation Y C) Generation X D) The War Baby Generation
A revenue expenditure results in the immediate recognition of an expense
Indicate whether the statement is true or false
A logistics model in which components for a product may come from two or more different physical locations and are shipped directly to the customer's location best defines
A) rolling warehousing. B) merge-in-transit. C) business process management. D) B2C fulfillment.
The exercise price or option price of a warrant is normally set ________.
A) below the book value of the firm's stock at the time of issuance B) equal to the market price of the firm's stock at the time of issuance C) above the market price of the firm's stock at the time of issuance D) above the book value of the firm's stock at the time of issuance