Measuring the efficiency of pricing actions and decisions is a difficult problem because customer behavior is very sophisticated: customers can switch between substitutable items, stockpile products at reduced prices, and so on. The true outcomes of price optimization can be reliably measured only after all these factors are estimated using statistical analysis. Our pricing software can provide you with a competitive edge by precisely measuring various economic and behavioral factors.
Model market response with confidence
Predictive modeling is quite commonly used in price optimization software nowadays. However, the understandability and explainability of demand models remains a challenge for many. We invested years of research to develop efficient representations and visualizations of diagnostic information that can be easily comprehended by business users in both B2C and B2B industries.
Unlock dynamic price management
Dynamic pricing has been adopted by many leading companies, including Amazon, Walmart, and Groupon. Our solutions for dynamic pricing help to maximize profit in rapidly changing and competitive environments, including ecommerce websites and marketplaces such as Amazon. This price optimization in online retail platforms is one of the many benefits of our pricing software. These systems provide you with a pricing solution so that you can increase the performance of your business with ease.
Clients we served on this
Analyze and optimize your product portfolio
Predictive analytics can greatly help with strategic analysis and optimization at the level of product lines, categories, stores, business units, and entire enterprises. It provides deep insight into how your product portfolio is moving in the space of key metrics such as margins and revenues, which helps to set the correct priorities, rationalize assortments, and choose between business strategies. The science behind our pricing software allows to analyze many factors that are essential for designing a sound product portfolio, reducing cost, and increasing profits.
Differentiate your pricing strategies
Different market segments and product groups require different pricing strategies. Our data-driven solutions help you to choose between strategies such as high-low pricing and everyday low price at any level of granularity. They can also help you implement the right promotion strategy for different times of the year to solidify the customer experience and revenue generation so that the customers can be effectively targeted to ensure the business is profitable.
Deeply analyze what your competitors are doing
Big Data and statistical analysis can provide surprisingly deep insights into what your competitors are doing and what works well for them and what does not. By collecting and matching retail data about prices, discounts, and product availability across the market, we can measure the effectiveness of competitors’ actions. When your competitors run promotions, our system will know and can identify if you should do the same, thus helping to drive growth in your company, whether it be retail or manufacturing.
How our software works
External and internal signals
Pricing and promotion optimization are only possible with a wide range of internal and external signals and competitive data. Our price optimization solutions achieve high accuracy via powerful data collection and management capabilities for first-party transactional and catalog data as well as via integrations with external data sources for competitive pricing data, public events, and weather.
We are known for creating the most advanced forecasting models in the industry, but we also put major emphasis on making these models interpretable and providing comprehensive diagnostic information for business users. Ensuring that users deeply understand what the system does is critical for any price optimization software. The science behind our price optimization software can be shown with various demos.
We combine data science with specialized economic models to optimize various elements of the price waterfall for different categories of products, including replenishable or seasonal goods. Our models also account for a range of complex effects such as demand cannibalization, price perception, and inventory constraints. The intelligence factor of our optimization system is second to none, and we can have a great system put into place within days.
Introduction to Algorithmic Marketing
Would you like to learn more about the economic and algorithmic foundations of price and promotion optimization? We have published a 500-page book on enterprise data science that is available for free download, and there is an entire chapter on price management in it.
We provide flexible engagement options to design and build your own price management solution
Contact us today to start with a workshop, discovery, or proof-of-concept (POC)
We offer free half-day workshops with our top experts in supply chain analytics and optimization technologies to discuss your supply chain management strategy, challenges, optimization opportunities, and industry best practices.
If you have already identified a specific use case that needs to be solved, we usually can start with a 4-8 weeks proof-of-concept project to deliver tangible results and business value.
If you are in the stage of requirements analysis and strategy development, we can start with a 2-3 weeks discovery phase to identify right use cases for supply chain analytics and optimization, design your solution using industry best practices, and build an implementation roadmap.