Price Optimization

Retailers and service providers regularly make important decisions regarding price points, discounts, inventories, product/POP displays, etc. With modern development of IT technologies and online shopping, such decisions often must be optimized in real time in order to maintain competitive advantages. Moreover, the automation of sales strategies through a combination of analytic methods and business rules often improves timely responses to customers.

The STATISTICA Price Optimization solution was designed to provide managers of all levels with optimized recommendations on prices, demand forecasts, price elasticity functions for their stock lines, and more. Optimization can be performed on user-selected levels of aggregation: region, store, commodity, or individual SKUs. The STATISTICA Price Optimization solution is an essential part of a company’s Revenue Management system that leverages historical data to support optimal, real-time decisions.

STATISTICA Solution

  • Real-Time or Batched Demand Forecasting: Automatically builds demand forecasts for the hierarchy of products and services.
  • Customization: Configurable combinations of products or commodities, ancestor-descendent relations.
  • Interactive Price Functionality: Price elasticity functions for SKUs are built interactively
  • Optimization Engine: Users select their optimization strategy and maximize revenue, customer base, etc.

Included Technologies

  • STATISTICA Decisioning Platform
  • STATISTICA Enterprise
  • STATISTICA Data Miner
Advertisements

About statsoftsa

StatSoft, Inc. was founded in 1984 and is now one of the largest global providers of analytic software worldwide. StatSoft is also the largest manufacturer of enterprise-wide quality control and improvement software systems in the world, and the only company capable of supporting its QC products worldwide, with wholly owned subsidiaries in all major markets (StatSoft has 23 full-service offices, on all continents), and its software is available in more than 10 languages.

Posted on August 1, 2013, in Uncategorized. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: