Price Optimization
Use AI for data-based optimization of your prices to maximize revenue or profit.
Predictive Pricing
We develop customized AI-based predictive pricing software for organizations. Our AI consultants guide and support you from the initial concept to the implementation of the final solution.
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Your Experts for Predictive Pricing Solutions
We develop custom data and AI-based Predictive Pricing Software for businesses
Pricing is a central success factor for many companies. Processes that involve manual analysis of market data and derivation of prices often cost a lot of time and resources. Using data and AI, companies can automate and optimize their pricing in terms of both sales and margin increases. In this approach, very large amounts of data can be processed by the underlying algorithms and thus be included in pricing.
The basis of any data-based price decision are so-called price elasticities. These reflect the relationship between price and demand and can be estimated from historical data using statistical or AI-based methods. Based on these parameters, price scenarios can be derived in which expected sales volumes or margins can be predicted. This enables companies to develop price or discount strategies that correspond to their business goals. Depending on the business model, it may make sense to vary prices over time (dynamic pricing) to respond appropriately to demand, inventory, competition, weather, or other factors. With the increase in e-commerce, more and more companies are trying to play out customer-specific prices, i.e., to align the price for a particular customer exactly with their willingness to pay. Methods from machine learning are also very suitable for these two price strategies, as they can process large amounts of data in real-time.
The development of AI based predictive pricing software is a core competence of our AI consultants, which we have already successfully demonstrated in many projects. With our support, you can automate and optimize your pricing.
Use cases for AI based Predictive Pricing Software
Discount Optimization
Determine the optimal level of discounts for specific products using data science and AI.
Dynamic Pricing
Automatically adjust your prices to various internal and external factors.
Personalized Pricing
With predictive pricing software, you can estimate the willingness to pay of individual customers and charge corresponding prices.
Up- & Cross-Selling
Focus your marketing activities on the customers where the intended effect is most likely.
Customer segmentation
Target your price strategies specifically to different customer groups and segments.
Pricing Analytics
Understand the impact of price decisions on your business development.
Price elasticities
With data science and AI, you can estimate how customer demand will react to price changes.
Our strength
Our ecosystem enables a holistic view of data & AI.
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Tools, Partner & Technology
10+
years of experience in Data Science, ML, and AI
100+
clients from 10 industries and growing
85+
experts from more than 17 fields of study
1,000+
successfully implemented Data and AI projects
Dynamic Pricing in Aviation
In close collaboration with our client, we reviewed and optimized a newly developed model for calculating price elasticities in this project.
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Price Elasticities in Retail
In this project, we collaborated with our client to develop a method for estimating store-specific price elasticities and influencing factors.
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Pricing Analytics in Retail
In this project, we supported an international retail corporation in the introduction of pricing analytics, both methodically and operationally, over a period of more than a year.
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Discount Optimization
The project focused on the data-driven optimization of distributing discount budgets across individual vehicles for targeted inventory management.
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Dynamic Pricing with Reinforcement Learning
In this project, we developed an autonomous pricing system that can automatically control the bid prices for continental flights.
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Market Segmentation in Aviation
In this project, we calculated market-specific price elasticities using a novel methodological approach to achieve a stronger differentiation of various customer segments.
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Price Simulation in Retail
In this project, we developed a price simulation tool for our client that predicts the expected sales volume in the coming weeks based on the price and various other influencing factors.
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Optimizing the supply chain pricing strategy for an automotive supplier
We optimized the supply chain pricing strategy for an automotive supplier to achieve greater transparency in cost structures, optimized margins and greater efficiency throughout the supply chain.
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Benefits of AI based Predictive Pricing Solutions
Automated price definition
With AI based predictive pricing software, companies can determine optimal prices for hundreds of products in seconds.
Data-based pricing strategies
Using algorithms, various external and internal factors can be included in pricing.
Increased sales and profit
An optimal pricing strategy helps companies maximize sales and profits in the long term.
In-depth insights
Analyzing historical sales and price data provides interesting insights into the factors influencing product demand.
Interested in tailored Predictive Pricing Solutions?
01
Free consultation
Discuss your challenges and goals in the area of Data & AI with us.
02
Tailored offer
Receive a customized and transparent offer.
03
Presentation & contract award
We present our approach to all relevant stakeholders.
04
Onboarding with project team
Our dedicated project team takes care of your needs.
