What If Every Product Could Be At The Right Price At The Right Time?
Advancements in big data, tools and technology mean that it’s easier than ever before to monetize a large catalog of products using price optimization software.
Forward-thinking companies are beginning to take advantage of these developments to leverage their pricing to drive value for their trading partners and themselves.
What should your price optimization solution deliver? For digital commerce companies the key points are as follows:
- Optimization-led pricing: The ideal price optimization software enhances your current pricing strategy and simplifies your pricing process by removing manual tasks. The system recommends optimized prices based on business rules, elasticity, prices of comparable products and impact of price change across different channels.
- Quantifying pricing impact: Understand the impact of price changes on projected revenue, by quantifying the uplift in revenue based on change in price. A What-if analysis allows you to evaluate alternative pricing strategies that maximize your revenue.
- Align pricing to consumer demand: Understand the relationship between list and consumer price and determine a revenue maximizing list price that does not negatively impact demand.
- Automatically course-correct pricing decisions: Once a revised price has been put out in the market, your price optimization solution should monitor the impact on sales and revenue to ensure there is no negative impact.
With Vistaar, you can do all of this and much more!
Intelligent Digital Pricing
Features
Prescriptive Opportunity Identification
Make your existing products more profitable. Vistaar’s price optimization solution automatically mines your product catalog for margin optimization opportunities that represent highest bang-for-the-buck
Optimized Pricing
Set competitive prices using machine-learning and cutting-edge modelling capabilities. Vistaar’s price optimization software recommends prices that maximize margin, market share, revenue and other business objectives.
Contextual Analytics Drive Smart Decisions
Easily visualize your data and make smart decisions with our contextual analytics that are tied directly to action.
Automated course-correction
Reduce the risk of a negative impact. Using advanced machine learning and AI, Vistaar’s price optimization software contains self-correcting optimization methodology that ‘learns’ over time.
Business rules framework
The framework that introduces a guard-rails and policy enforcement layer over optimized prices to ensure risk management and avoid ‘run-away’ prices.
