Insight is at the heart of a powerful pricing system. It’s the essential ingredient in developing robust frameworks and weaponizing the data your organization gathers (perhaps the greatest challenge that faces modern businesses).
Pricefx believes the future of pricing will be defined by the implementation of cutting-edge machine learning and advanced simulation and visualization programs on a macro scale. But these tools are relatively useless without a partner who can instruct you on their use and implementation.
To showcase how Pricefx guides our partners to growth, we've curated this selection of content to focus on how to uncover insights, how analytics tools develop better insights and how insight-driven pricing transforms business as usual.
Pricefx Insight is brought to you by PriceAnalyzer and PriceOptimizer.
Rise of the Microbrew: A Look into Commodity Pricing and the Beer Industry . – Video
In this talk you will explore: The four phases that many goods in several industries take from specialized product to commodity How marketing and competition unsettles the status quo and where you can perhaps start to rethink your products If there is room in your industry and market to lift prices, leverage pricing power, and command more margins
PriceOptimizer: The Art of Not Leaving Money on the Table
Key Takeaways: Expansions in product, customer base, regions served and more make it difficult to serve the optimal prices PriceOptimizer can cluster by buying behavior so that pricing professionals can give the right price to the right segment PriceOptimizer uses machine learning to optimize prices across several segments Imagine you have a global sporting goods store that sells every sporting product that you could possibly dream of. Your store in England sells soccer gear including English team jerseys and other similar gear at the same price that you’d sell them in the US. However, the people in the England would
Use PriceAnalyzer to Get the Most Out of Your Pricing Data
Use PriceAnalyzer to Get the Most out of Your Pricing Data If you’re in the pricing industry, you’ve probably heard it mentioned multiple times over how a 1% increase in price yields an 8.7% increase in profits. Such an increase is definitely something that any company would leap at the opportunity to gain. However, the journey to get there is not straight forward. To get astronomical increases in profits, you first must convince the sales team to adopt a method of increasing prices, not a volume to reach their and the company’s goals. If you happen to make that hard