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• Case | HBS Case Collection | September 2019 (Revised September 2019)

  Vispera: Visual Intelligence for Retail

  Yael Grushka-Cockayne and Gamze Yucaoglu

  The case opens in 2019 as Aytul Ercil, co-founder and CEO of Vispera, computer vision technology provider for retail, is contemplating the company’s agenda trying to decide how to prioritize the impeding options. The case chronicles the founding of Vispera, the iterations of its technology and its business model, and lays the ground for the competitive outlook. The case provides a detailed overview of how Vispera’s technology and its automated visual analysis help retail and fast-moving consumer goods companies around the world to minimize stock-outs, increase sales, reduce personnel costs, and improve operational efficiency. In 2016, the debut of Amazon Go urges the retail players to up their game vis-à-vis technology. Demand for automation and computer vision in the retail surges. In a land-grab market, Vispera strives to grow globally, differentiate itself, keep its technology cutting edge, and raise capital. In 2019, taking a step back from all of the daily to-dos, Ercil needs to consider the big picture for making Vispera a leading global player. She needs to consider the following: Should the team focus on developing shelf availability and out-of-stock prediction capabilities or focus on dynamic pricing, customization, and real-time campaign management? Should Vispera pivot to provide insights beyond the shelf as was already being done by players entering the space? How should the team think about data ownership: could Vispera leverage the data to drive cross industry insights or market level perspective?

  Keywords: Technology Industry; Retail Industry; Turkey;

  Citation:

  Grushka-Cockayne, Yael, and Gamze Yucaoglu. "Vispera: Visual Intelligence for Retail." Harvard Business School Case 620-022, September 2019. (Revised September 2019.)  View Details

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• Case | HBS Case Collection | September 2019

  2U: Higher Education Rewired

  Yael Grushka-Cockayne and Karim R. Lakhani

  In its 2019 Partner Symposium, 2U, an online program management provider (OPM), showcased its new vision: “Career. Curriculum. Continuum. A construct for lifelong learning in the 21st century”. 2U, founded in 2008, and went public in 2014, was looking to expand beyond their current degree offerings to include a wider range of programs, such as short courses, bootcamps, and professional certificates. Led by co-founder and CEO Chip Paucek, 2U believed that they were the strongest partner in the OPM market that could enable universities’ digital transformation, allowing them to offer a variety of courses to a changing student profile. The universities, on the other hand, recognized that times were changing and that the appeal of a residential experience might be dwindling. Pressures of offering a more flexible learning format were mounting. Some schools were engaging in partnerships such as with 2U to get themselves online while others saw digital and online as the next evolution of instruction and that it was their responsibility to learn how to master it and own it. The case considers Paucek’s challenge of leading a for-profit OPM. Was 2U growing in a way that risked alienating their most important stakeholders, the brand named universities themselves? Were the university leaders going to change their approach and start investing in the digital transformation themselves to avoid giving 2U a cut of their revenues?

  Keywords: Digital Innovation; digital transformation; architectural innovation; make v. buy; Learning; Higher Education; Online Technology; Innovation Strategy; Transformation;

  Citation:

  Grushka-Cockayne, Yael, and Karim R. Lakhani. "2U: Higher Education Rewired." Harvard Business School Case 620-044, September 2019.  View Details

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• Working Paper | HBS Working Paper Series | 2018

  Averaging Probability Forecasts: Back to the Future

  Robert L. Winkler, Yael Grushka-Cockayne, Kenneth C. Lichtendahl Jr. and Victor Richmond R. Jose

  The use and aggregation of probability forecasts in practice is on the rise. In this position piece, we explore some recent, and not so recent, developments concerning the use of probability forecasts in decision-making. Despite these advances, challenges still exist. We expand on some important challenges such as miscalibration, dependence among forecasters, and selecting an appropriate evaluation measure, while connecting the processes of aggregating and evaluating forecasts to decision-making. Through three important applications from the domains of meteorology, economics, and political science, we illustrate state-of-the-art usage of probability forecasts: how they are aggregated, evaluated, and communicated to stakeholders. We expect to see greater use and aggregation of probability forecasts, especially given developments in statistical modeling, machine learning, and expert forecasting; the popularity of forecasting competitions; and the increased reporting of probabilities in the media. Our vision is that increased exposure to and improved visualizations of probability forecasts will enhance the public’s understanding of probabilities and how they can contribute to better decisions.

  Keywords: probability forecast; forecast combination; forecast evaluation; Decision Analysis; Forecasting and Prediction; Decision Making; Analysis;

  Citation:

  Winkler, Robert L., Yael Grushka-Cockayne, Kenneth C. Lichtendahl Jr., and Victor Richmond R. Jose. "Averaging Probability Forecasts: Back to the Future." Harvard Business School Working Paper, No. 19-039, October 2018. (Under Review.)  View Details

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