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ScoutPal Adds New Feature! 08/16/2007 Return To Online Bookselling Home Page |
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David Anderson of ScoutPal has integrated an Amazon.com sales velocity calculation to the features that are user selectable for book scouts. This feature will calculate an approximate time required to sell a book based on the Amazon.com sales rank. The calculation is done using an algorithm that I developed using my experience for thousands of book sales, and is good for sales ranks up to 4,000,000. the correlation coefficient for the algorithm is 0.9924, which suggests a very good fit of the equation to the data.
I have provided the information and the algorithm to ScoutPal exclusively. When Dave releases ScoutPalDB for all UPC coded products, this algorithm will also be integrated into that for books only.
I am excited about this and hope that you will send me some feedback regarding your experience with it. You should use it as a guideline only, because the sales velocity that you experience will differ from mine because your pricing philosophy will not be the same as mine. Still, the results should give you a good idea how long it might take for a book to sell through the Amazon.com marketplace for any given Amazon.com sales rank.
I hope you find this useful, and that you will take the time to tell me what you think. You can e-mail me at: mike@online-bookselling.com.
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