Oil Company Improves Pricing Process and Efficiency Using Pricing Analytics

Sep 22, 2016

Business Challenge

Implementation of robust pricing model.

A leading energy client wanted to develop price model to better manage the impact of price changes on its business.

Situation: Setting up analytical models for price modeling.

The client wanted to improve its visibility on the oil market prices and based on this, setup analytical models for data based insights.

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Pricing analytics solution for accurate price forecasting.

We collected data on oil market prices and changes in the global oil market. We determined the optimum price points for maximization of profits and assessed price sensitivity based on the production and supply and the effect of competitive pricing. The solution enabled clients to accurately forecast prices based on factors affecting price changes in the future, as well as assess the impact on the margins.

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Improved pricing mechanism and better control over volatility of supply demand conditions.

The client was able to gain visibility on the oil market based on the statistical model. They were able to precisely track and forecast price impact on margins. Our solution helped the client in improving the pricing mechanism and establish better control over changes due to supply and demand issues.

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