Pricing Software for Price Optimization: Bigger Profits, Better Business

Price Optimization Software

AI-driven price recommendations engine for retailers to convert demand predictions into revenue with optimal prices and sales outcomes powered by algorithms

Talk to Competera
optimize pricing optimize pricing optimize pricing optimize pricing optimize pricing

Revenue Boost With Augmented Human Expertise

We believe that modern ML technologies could help humans be better

Expert
made decisions
The better the experts, the better the decisions
Expert
+ Business Intelligence
Business Intelligence tools helped to make insights more accessible
Expert
+ BI + Automation
Human-supervised automation ensured faster decisions
Machine Learning
+ Goals
Machine Learning guided by business goals leads to better results

Benefits for your business

  • Strong demand and sales predictability
  • Growing sales through more demand
  • Maximized profit through intelligent pricing strategies
  • Improved margins and inventory performance
  • Decreased discount approvals
  • Accumulated positive and negative learnings
5 %
revenue growth
10 %
margin increase
5 %
profit boost
80 %
fewer discount approvals
20 %
increase in customer LTV

How Our Pricing Software Works

We create a demand and sales prediction model powered by a dense neural network capable of identifying durable hierarchical relationship among features.

The model defines the exact effect of any price change or promo campaign on sales with 90-98% short-term prediction accuracy.

The model predicts sales at the level of an SKU and small product groups and factors in elasticity, cross elasticity with other products, as well as seasonality, competitors and hundreds of other variables.

Machine Learning
+ Goals

Competera is a new generation AI-driven price optimization software which converts demand prediction into revenue for retailers

Focus on a bigger picture
Saved from routine tasks, managers can focus on strategic decisions
Optimize pricing
Retailers have to ensure that at any given moment they have the optimal price to meet their goals
Accumulate experience
The algorithm stores good and bad experience and makes it accessible to any manager
Forecast everything
Predict the impact of any pricing or promo decision for the whole assortment

On The Way To Better Results

Expert Opinions
Data Science
Pricing Intuition
Predictive Algorithms
Manager’s Memory
Machine Learning
Human Supervision
Artificial Intelligence
With Competera’s Price Optimization, retailers predict sales with the help of AI-driven price recommendations
70 %
of retail winners
are capable of responding quickly to demand change and market conditions. Deloitte Digital research

Machine Learning For Sales & Demand Forecasting

High-quality price predictions increase revenue by 5-15 % for high-margin businesses

Price Recommendations
The algorithm always knows when and how much to increase prices without losing sales
Promo Scenarios
The solution shows whether a promo is necessary and how deep it should be how deep it should be to stay profitable
Smart Reaction to the Market
The algorithm will advise on whether to follow the actions of the key competitors in every particular situation
Debugging System Of Calculations
Retailers understand in detail what made a certain pricing decision profitable or loss-making
Accesible Experience
The system stores all the company’s experience (good or bad), which is accessible to every Category Manager

How Artificial Intelligence In Retail Works

Internal Data
Sales
Promotions
Products
Stores
External Data
Weather
Competitive Data
Day
Events
Sales Forecast
Business Strategy Targets
Business Strategy Constraints
Optimal Prices
All product
portfolio
All
stores
Every
Day

Case Study

Artificial intelligence technology was implemented in pricing during a one-month pilot

The algorithm set prices in the test group, while the pricing in the control group remained unchanged.

Over $500 million
in annual sales
Increase sales with
no loss in margins
Omnichannel consumer
electronics retailer

Without Competera

SKU1
Mirror the competitor’s 20% promotion
SKU2
Low sales —Offer a deep discount
SKU3
Set a price by 2% lower than that of the competitors
RESULT
A slight, if any, increase in revenue and a drop in margin

With Competera

SKU1
Offer a 5% discount to change price perception; your revenue will rise by 23%
SKU2
Price decrease will not be effective; you should increase the price by 15% to improve the price perception of other SKUs
SKU3
Elasticity is low; you should increase the price by 5%. Sales will not drop
RESULT
A steady increase in revenue or an increased margin

Ready To Elevate Your Revenue?

We are eager to meet you and answer any questions about price optimization.

Complete the form

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