COSMO Dynamic Pricing | Dynamic Pricing Software
Price optimization through dynamic pricing
My Challenges
In many companies, all articles are treated according to a uniform set of rules without taking into account the article-dependent elasticities. Often, a strategy for reducing stock was defined at the start, but it was never adapted. The result is a rigid set of rules without any restrictions or constraints. These would first have to be manually recorded and assigned by employees.
Modern pricing is different.
How I will be supported
Here's how your company could set prices in the future: With the help of dynamic pricing, decision-making is automated and intelligent. Modern data science algorithms are combined with optimization methods and ensure flexible and fast response times. Artificial intelligence and machine learning methods are used to reliably predict sales and price elasticities, and customer behavior is also taken into account.
Optimization methods can tailor target formulations to current requirements and adjust them seasonally—for instance, to boost gross profit or maximize sales. The price management software provides a flexible solution that integrates seamlessly into your existing system landscape.
My benefit
COSMO Dynamic Pricing enables automated and intelligent decision-making as well as flexible and fast response times. Employees can transform their know-how into digital knowledge.
The price management software can be adapted to the respective corporate strategy, so that flexible pricing is guaranteed. By using algorithms and machine learning techniques, your company can better understand the buying behavior of customers and thus offer individual prices for customers.
With the COSMO Dynamic Pricing application, the increase in gross profit can be measured in the long term.
Gain various product insights
Influence of goals, internal/external data, price elasticity/sales forecast and general conditions business rules on dynamic pricing and the automated price proposal
Flexibility
- Adaptation of the algorithms to individual customer requirements
- Consideration of external influences (e.g. weather)
- Scale quickly by leveraging the Azure cloud
Adaptation to individual needs ensures flexibility
Transparency
- Common definition of the objective function
- Generation of key performance indicators for assortments and articles
- Full involvement of employees
Transparent further development with the Dynamic Pricing Tool
Individuality
- Individual evaluation and optimization of the articles
- Arbitrary addition and extension of framework conditions and restrictions
- Flexible and dynamic price calculations
Measurable increase in long-term gross profit
Features
- Artificial Intelligence and Machine Learning
- Different optimization methods
- White-box approach
- Transformation of knowledge into digital form
System Requirements
This app requires Microsoft Power BI.
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