Organizations that sell thousands of SKU's to a large and diverse customer base create an amazing wealth of transactional, product and customer data that can be exploited to understand price sensitivity and develop price recommendations that optimize revenue and profitability. By understanding the factors that drive price variability such as geography, customer spend, order size, channel, product differentiation, etc, unique price segments are created to accurately measure price sensitivity and provide pricing guidance to the sales team. Having access to data-driven insights that show what other "peer" customers with similar characteristics are paying enables sales teams to quote and communicate prices with confidence. |
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The impact of a well executed price optimization can be very significant. We have seen returns on investment ranging from 10x - 20x.
Beyond the direct benefits to revenue and profits organizations who have adopted big data-driven pricing solutions have also managed to streamline their quoting, sales and customer negotiation process which frees up resources to improve other areas of the business. |
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$ 2 Billion Food Distributor
Optimizing price levels across thousands of customers and thousands of SKUs
Optimizing price levels across thousands of customers and thousands of SKUs
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