AI Based Price Optimization
AI-Based Price Optimization
Price optimization is the use of mathematical analysis by a company to determine how customers will respond to different prices for their products and services through different channels. It is also used to determine the prices that the company determines which will best meet its objectives such as maximizing operating profit.
Critical Industrial Challenges
Are you facing customer churn & losing revenues?
Is your competitor constantly stealing your customers?
Are you always wrestling to maximize your profit margins?
Does your product price mislead your customers?
AI-Based Product Pricing & Optimization Engine
Synctactic.AI price analytics engine allows retailers to set optimized pricing for the entire portfolio of their product, offering and services by using all the existing transactional data related to product features & benefits, their lost sales, churn rate, sales patterns, and competitive product price and its positioning.
Benefits with AI-Based Price Optimization Engine
Control your Profit margins
Increase in Business growth
Competitive Pricing to control fluctuating revenues
Accurate Listing, Discounted & Promotional Prices to Increase Sales Volume
Syntactic AI-Based Price Optimization
Synctactic.AI retail analytics tools are retailers AI-based Data-driven hyper-growth AI engine to predict at what selling price an individual client is positively going to take the offering and not to just add in their cart but make an immediate payment with successful checkout.
Product elasticity and its cross-elasticity with competitive products
Syntactic.AI Data engineering tools are goal-driven to optimize the key business KPI in terms of volume of the sales, unit sales profit while factoring both the elasticity of the product and its cross-elasticity with competitive products.
Data-centric and Model-driven Price Optimization
SyntacticAI has been providing an accurate price recommendation engine by taking all the existing data-centric and model-driven approaches inbuilt into their patent-pending tools like Sync discover, Sync learn, Sync data, Sync analyze which has been factored for Market Based Pricing, Customers behaviors towards pricing, Customers sensitivity for various pricing.
Competitive pricing & Discounted pricing
SyntacticAI data automation & data engineering tools mine through various data resources from Markets, inside transactional data and Competitor data to bring the best price optimization points which factor Pricing elasticity, Competitive pricing, Discounted pricing for bulk orders.
Behavioral based Price Optimization
SyntacticAI Dynamic Pricing optimization capability contextualizes the price of the offering based on customer past behavioral and shopping patterns. This pricing optimization approach directly enhances the existing pricing strategies to deliver promised Return on investment in a quarter on the AI-based Price Optimisation and Price recommendation engine.
To immediately leverage this power of AI on your existing data and system please connect with one of the data scientist members of the Syntactic.AI team.