Price Optimization

Optimal price position How it works Deliverables

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Price Optimization

Machine Learning & Maths & Big Data to maximize the sales performance
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How to make sure
you have the optimal price position?
You will know the answers
Price elasticity
  • How sensitive is the demand for a price position?
  • How different do price strategies affect sales?
Price competition
  • Who is your main price competitor?
  • How will price changes for one SKU affect sales of others?
  • How will demand redistribute based on partial price change?
Price optimization
  • What is the best price range distribution for a segment?
  • Which prices would be optimal to maximize sales or margins?
How it works
Customer behaviors & influencing factors

Prices
+

  • Sales history
  • Macro factors
  • Distribution
  • Activity at the point of sales (website etc.)
Art & Data & Science

The theoretical model
+
Market data
+
Econometric modeling

Mathematical demand model
A variety of econometric modeling techniques enables the building of demand models based on historical data.
References in the Dashboard
Different product groups defined, price adjust recommendations are displayed, and the ability to simulate future sales on various scenarios has been added.
Deliverables
Analytical report

Describing the pricing model, demand factors, SKU dependencies and recommendations, regarding pricing strategy.

Platform integration

Access to the pricing platform enables simulation of different scenarios, implementing different strategies and repricing of selected SKUs, along with integration to your ERP or export.

Model support

We will support a technical solution and the model during the entire subscription period.

Implementation of “Predictive & Dynamic Pricing” generally
lifts revenue by 2-30%
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