While researching apps that are generating buzz, we came across the app titled Decide. This application provided consumers with information to help predict whether they should buy a product or wait for the price to drop to make a smarter purchase. Worldwide commerce leader eBay bought the price research firm in order to better address the needs of eBay’s users.
Decide’s CEO Mike Fridgen stated “Over the past year, we began experimenting with eBay and discovered an exciting opportunity to apply our team’s strength in data and predictive analytics to help over 25 million eBay sellers make smarter decisions and be more successful.”
Twenty-six members of the Decide team are expected to join eBay in hopes of giving the site’s sellers past historical data of what sold, how it sold, what didn’t sell, and what the different conditions were in which consumers were buying it.
The acquisition of Decide is one of many purchases eBay has made in emerging areas of e-commerce, such as social (Hunch), local (Milo), and mobile (RedLaser) and now price predictor (Decide). Keep an eye out to see how eBay uses Decide’s technology to better assist its customers!