Photo: By Michael Holden on flickr
It’s an entirely too familiar feeling. You spend loads of cash on some new gadget and it goes on sale the following week. If only there were some way to know when prices will drop!You still can’t know when things go on sale, but researchers at Microsoft are working on a way to help identify the best time to buy something.
It’s called Prodcast, and it looks at price history, sales volume, and time of year to guess when an item might go on sale. It can even tell you how certain it is — if an item costs $900, Prodcast can tell you that it’s 80% certain the item will cost between $750 and $800 in two weeks.
The technology has huge application in price comparison sites, which currently only tell you where to buy a product, not when.
Prodcast will be demoed at the International Conference on Knowledge Discovery and Data Mining in San Diego next month.