How our pricing analytics solutions help clients
Today, companies face the daunting task of making sense of unstructured product and dynamic pricing data. Most businesses fail to make sense of such data and struggle when it comes to identifying the right strategies to improve their product pricing. Market leaders of the digital and e-commerce world, use insights derived from pricing analytics solutions to drive informed decision making.
Our pricing analytics solutions help companies create optimized pricing, promotion and discounting strategies. Optimized price points help businesses to drive conversions and realize sales opportunities. With the aid of price analysis, businesses can optimize prices and discounts, reduce price gaps, benchmark prices against competitor products to increase both sales and profits.
At Quantzig, we combine the power of data analytics and business intelligence to deliver superior pricing analytics capabilities and increase profitability and competitiveness.
Key benefits we provide
What do we offer?
We help businesses determine how the demand fluctuates based on changes in price points across various channels. Our pricing analytics solutions leverage advanced regression and machine learning based techniques to provide optimized price points and discounts to the customers and maximize profitability.
Solutions we offer
Introduction to our pricing analytics case studies
Pricing Analytics for a Leading Global Manufacturer and Retailer Helps Improve Sales and Revenues
Business Challenge: A leading consumer goods and electronics manufacturer and retailer in Europe wanted a solution for dynamic price setting and discounting, allowing sales representatives to close deals much faster for their B2B clients.
Situation: Apart from a solution for price and discount optimization, some of the ancillary objectives of the client were to monitoring prices of deals across different product and customer segments as well as geographies and ensuring data accuracy by accessing internal data from their sales, invoicing, CRM, and ERP systems.
Impact: With the help of our pricing analytics solution, the client streamlined the entire order to quote process and improved pricing transparency across geographies and segments. Additionally, the client determined the optimal price that maximized contribution by simulating sales and revenues based on customer segments, price, product, etc.
Raw Material Cost Minimization and Price Tracking Analysis for a Leading Industrial Parts Manufacturer
Business Challenge: A leading industrial parts manufacturer who sourced their raw materials from multiple locations across the globe wanted to reduce the cost of goods sold, identify unproductive services, and improve process performance to gain an edge in their price negotiations and maximize margins by minimizing raw material costs.
Situation: Their existing portfolio of engineering products was extremely complex. Due to this situation, the client faced challenges in getting competitive bids from suppliers as there were very few to cater to such specific raw material requirements.
Impact: With the help of robust pricing analytics models, we helped the client identify the cost drivers in the early stages of the product’s lifecycle and ensured that total costs were minimized. This helped improve the margins. The client also gained actionable insights into the key cost drivers for each product, which helped them make better purchase decisions.