Arte e Cultura
Artmarket.com: Tailor-made Subscriptions Will Substantially Boost Our Revenues in 2020
According to thierry Ehrmann, founder/CEO of Artmarket: " "
Using AI and Big Data, Artmarket.com will finally be able to capitalise the real value of Artprice's accumulated assets over the past 20 years, namely, close to 5 million members who regularly access our databases and services in free mode, but who, until now, have not found the right formula for their personal requirements in our 4 subscription packages. For this community, It was not a problem of price, but rather the absence of personalized subscriptions corresponding to their complex and highly individual browsing histories.
It should be noted that compared to other economic sectors, the structure and nature of the Art Market is highly complex: artists, artworks, mediums, auction houses, countries and places of sale, biographies, periods, movements, schools, etc. all contribute to a profoundly fragmented market.
Faced with this rare complexity, Artprice by Artmarket.com's loyal members – roughly 4.5 million in total, whose browsing and search habits we have logged in full compliance with applicable laws – will at last be offered subscriptions costing between 180 and 3,600 euros per year, corresponding exactly to their specific needs based on their browsing histories and their respective interests.
According to numerous existing studies, the integration of AI and Big Data into the B2C and BtoB interface immediately generates strong sales growth. The GAFAs have all integrated AI into their business models, achieving triple-digit revenue growth!
This new 'resource', resulting from an industrial partnership with Vahumana (Groupe TRSb) one of Europe's leaders in Artificial Intelligence, once again gives ArtMarket.com a substantial advance that will allow us to consolidate our global Leader position, maintain our perpetual adaptation to technological developments, and, above all, adapt our business model to the realities of contemporary consumption where the capacity to offer quality and tailor-made services is absolutely key to survival.
This project has been made possible by our name change and, above all, by the extension of our corporate purpose to include "metadata processing" as part of Artmarket.com's global strategy as a global player in the Art Market.
Artprice by Art Market's customers and non-subscribing members have clearly expressed their wish to be offered ultra-personalized services based on their navigation histories, their discoveries and their aspirations. We must therefore offer tailor-made services. Without AI and Big Data, it would have taken hundreds of employees in Artmarket.com's marketing department and an almost unmanageable IT back-office to meet these expectations.
Artmarket.com's clients and non-subscribing members have access to information about more than 720,000 artists down the centuries and 180 million artworks in a range of mediums. As of early 2020, our AI and Big Data collaboration with Vahumana will allow us to store and process in our multiple server rooms, in real time, billions of queries (logs) per year, directed towards Artprice.com's free or subscription-based services and structured by Artmarket.com. This technological feat was unimaginable and financially impossible until recently.
It is not just a question of storing information, but also of calculation speeds and real-time behavioral analysis in strict compliance with international law.
With our AI systems, customers will have real-time access to queries that our computer scientists and econometricians only had access to after innumerable complex operations on our databases and a waiting time that was incompatible with Internet browsing. Today the Internet reaches more than 4 billion users in 4G, Wi-Fi / Fiber and 5G, the latter technology being already operational in many countries, including the USA , Greater Asia and Europe .
This major collaboration between Artmarket.com and Vahumana has received financial support from France's Public Investment Bank after Artmarket.com once again obtained the "Innovative Company" label from the French State.
We can now customize our subscriptions, products and paid services for the millions of collectors and Art Market professionals who until now were not finding solutions adapted to their individual approaches within Artprice's four standard subscriptions. This represents an unprecedented development for the global Art Market.
The resulting increase in our customer base without employing any additional marketing and/or human resources will generate a strong increase in revenue and this additional revenue for Artmarket.com will translate almost entirely into net profit since the company is already profitable thanks to its sound management.
According to Arnaud Girard , Director of Strategy at Vahumana:
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Arnaud Girard , Director of Strategy at Vahumana, also confirmed:
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By exploiting our data – in particular first party data – we will be able to create paths, products and services that respond more precisely to the needs of our different types of users.
Collectors, art professionals and artists will benefit from personalized and optimized content and features.
Vahumana will enhance the operational efficiency of existing and future systems in order to extract maximum value.
One of the collateral benefits of data exploitation is the discovery of unforeseen and otherwise unforeseeable opportunities. Artmarket.com and Vahumana use what might be called a "serendipity approach", in which attention is paid to the surprising results of studies and relevant interpretations are proposed. Probability theory, made possible by the volume and quality of the data, is used to confirm the relevance of these interpretations.
Artmarket.com is therefore giving itself the means to move into new strategic paradigms.
Steered by Renaud Rochefolle, Vahumana's Chief Technology Officer, Artmarket.com's Big Data leads naturally towards the construction of powerful machine learning systems... a cognitive approach to analysis.
The machine learning systems will model the complex relationships between causal factors and forecast variables.
The implementation of a Smart Data strategy will optimise the processing of information and deliver relevant and actionable data for our customers and our internal teams.
In order to create new value-adding propositions and identify the most interesting avenues to explore, we need to combine data-derived knowledge with an intimate observation of the customers' most subtle emotions and behavioral quirks.
is not enough.
According to Bertrand Cochet , Vahumana's Experience Design Director " ."
The segmentation of customers and their requirements only has relative (and perishable) stability. External disrupting factors can appear overnight.
Artmarket.com is thinking hard about what its customers will need in the future and the best way to serve them.
" concludes Arnaud Girard .
The founder of Artprice and CEO of Artmarket.com, thierry Ehrmann: " Whatever the future of Artprice, there can be no doubt that with Artprice thierry Ehrmann will permanently change the history of the Art Market.'
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www.artprice.com - www.artmarket.com
is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 - Bloomberg: PRC - Reuters: ARTF.
Discover Artmarket and its Artprice department on video: https://en.artprice.com/video
Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.
See certified biography in Who's who ©:
https://imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierryEhrmann.pdf
Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 700,000 artists.
Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.
Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 4.5 million 'members log in' users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France's Commercial Code).
Artmarket with its Artprice department, has been awarded the State label "Innovative Company" by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.
Artprice by Artmarket's 2018 Global Art Market Report published in March 2019 : https://fr.artprice.com/artprice-reports/le-marche-de-lart-en-2018
Index of press releases posted by Artmarket with its Artprice department:
http://serveur.serveur.com/press_release/pressreleasefr.htm
Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:
https://www.facebook.com/artpricedotcom (4.5 million followers)
https://twitter.com/artmarketdotcom
https://twitter.com/artpricedotcom
Discover the alchemy and universe of Artmarket and its artprice department http://web.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" ( The New York Times ): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013
L'Obs - The Museum of the Future: https://youtu.be/29LXBPJrs-o
https://www.facebook.com/la.demeure.du.chaos.theabodeofchaos999 (4 million followers)
https://vimeo.com/124643720
https://www.facebook.com/the.demeure.du.chaos.theabodeofchaos999
Contact Artmarket.com and its Artprice department
Contact: thierry Ehrmann, ir@artmarket.com
Logo - https://mma.prnewswire.com/media/1009603/Art_Market_logo.jpg