Practical Applications of Game Theory in Business, with Boris Kerzhner

Asha Saxena speaks with Boris Kerzhner, the Chief Data Scientist at BookXchange, a business specializing in purchasing and sales of textbooks to students and wholesalers worldwide. Boris was tapped to run the retail arm of the business, and he uses game theory and data to help make buying and selling decisions to dramatically increase the profitability of BookXchange.

Game theory deals with the understanding of strategic situations. Its purpose is to find an optimal solution to a given situation. Game theory can be used for investing, customer engagement, product placement, and many other varied business applications across many industries.

Big data analytics is one of the core technologies used by businesses in today’s ever-evolving marketplace for decision making and game theory application. Learn more on today’s episode.

What you’ll learn in this episode:

  • How BookXchange differentiates itself from other companies in the college textbook space
  • How Boris leveraged his background as a mathematician to convert the principles of game theory into his career as a data scientist
  • How Boris uses game theory to identify his competitors’ prices for textbooks to maximize ROI and profitability on his own sales
  • How machine learning and artificial intelligence are challenged by the unique properties of the textbook sales business
  • What tools Boris finds most useful for pricing and selling textbooks on Amazon
  • Boris’s advice for starting to learn and utilize game theory, AI, and machine learning tools
  • How Boris obtains, analyzes, and uses the information he gathers from competitor product listings
  • Boris’s advice, thoughts, and recommendations for people who are interested in using data in their own business

Ways to contact Boris: