Pricing Analytics to Enhance Profitability
Executable intelligence from data aggregation and derivative analysis across varied products, markets and customer segments to drive growth in margins.
Businesses not using pricing analytics actively to enhance margins
Digitisation of records is helping companies amass millions of data points to analyse and improve pricing. Unfortunately, understanding the connections and deriving comprehensive insights remain key challenges. Businesses are hindered by lack of experts and limited front-line involvement to get pricing strategies that works. Lack of management expertise across different hierarchies to understand the importance of price analytics compounds the problem.
Consequently, businesses continue to use (at least some) aspects of traditional approaches to tackling the pricing issue. The complexity and the continual flux in information today render such analysis useless even before it reaches the sales teams, causing considerable and avoidable losses. Even in teams that have put in processes, aspects such as quantifying performance across an ever-increasing number of sales channels to categorise the effects of varied initiatives remain a challenge
Big data analysis-backed strategies and action plans that improve margins
Aggregating and blending big data from multiple touch points to derive customer decision patterns that help enhance pricing models across segments and specific products
At Steeple, we help businesses utilise big data and machine learning to interpret pricing across different products, segments, markets and consumer demographics. Our models identify hitherto overlooked factors and connections that allow companies to create superior sales strategies and marketing plans. We help build custom algos for different markets and product segments, which catalyse dynamic price strategies across the entire product range.
With our support, businesses can automate pricing analysis for hundreds of products for multiple consumer segments on a real-time basis and deliver immediate value-addition for the front line sales team. Our process-building suggestions also help personnel across different hierarchies understand and embrace the analysis to improve team and business performance and deliver considerable upsurge in margins
Helping Build Dynamic Pricing Models
Big data insights that visualise patterns and connections and help businesses create multi-channel pricing strategies for different end-markets.
Guideline Price Setting
Price Value Mapping