Real-time pricing is made possible through a deep understanding of demand analytics.
Demand pricing generally is synonymous with the hospitality industry, such as airlines, hotels, and car rental companies. This type of real-time pricing is made possible through a deep understanding of demand analytics. But companies that have limited or delayed market data are unable to capitalize on demand fluctuations.
Leveraging data and analytics, our Price Optimization Analysis solution enables internal and external data to tell an advanced, customized pricing story. We start by curating internal sales data, web traffic, and inventory breakdowns with external industry trends to determine optimal pricing models. These models estimate the various demand levels of customer segments that can be used on a broad scale, or applied to individual departments or products within a company’s offerings.
Using progressive analytics, we identify real time costs and margins to build a pricing model that maximizes profitability. We also analyze competitive data to maintain an analytical comparison of a company’s prices and product capabilities as compared to market. Data visualizations demonstrate regional averages, trends and variances, and have granular capabilities by company, industry, and product line.
Once our Price Optimization Analysis is complete, we combine sales and production data to highlight potential maximum profit margin ratios. With current input and product pricing information, our analytics offer actionable pricing optimization that will ensure pricing responds to changes in supply and demand while increasing revenues.
*Note: content built through research and competitor analysis