Highly competitive business environment and rising costs increase the importance of pricing. We can observe that companies trying to create price efficiency according to their profitability goals, end up losing clients and facing financial difficulties in the long term because of their pricing strategies.
In pricing, understanding the sensitivity of customers at price levels and determining the price that produces the highest profit for the company while preventing the customer to switch to the competitor compel the problem to be handled as a complex optimization problem.
It is important that the solution is both dynamic and systematic due to price fluctuations in the competition during the day.
For pricing optimization, the following areas need to be evaluated with a holistic point of view;
Price optimizer utilizes data analytics to predict the behavior of customer to different price levels. Price Optimizer estimates customers’ responses for any price offer in a range with customer sensitivity models.
System Optima Price Optimizer takes into account the potential profit of the customer in the future, together with customer lifetime value, besides product profit.
The solution offers the optimal prices for customers with its powerful analytical optimization engine in the direction of targeted profitability and volume. It offers a more advantageous price to customers before customers demand their prices and helps to maximize the profitability of the company without losing the volume.
Price Optimizer product includes deposit pricing and loan pricing modules.
Ready to use in Financial Services,
Customizable for E-Commerce, Airlines, and Telecommunications
Marketing, Sales, Pricing
Available on premise & cloud