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Use historical sales data to run predictions of future performance
The Predictions Solution brings many useful features to help you with your pricing process. Do you want to unlock your pricing potential and learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!
Out of the box tools delivered by our pricing engine.
If you want to have the optimal prices for your products, price elasticity is a key element to take into account. With this information, you can determine what the next course of action will be. Do you want to take competition or costs into consideration during your price predictions?
The Pricing Strategy Builder lets you combine different strategies to account for any desired factors.
If you want to have the optimal prices for your products, you need to know the price elasticity for that product. With this information, you can determine what the next course of action will be. Maybe you should increase it to optimise profit, or maybe you should decrease it to sell more and increase revenues.
Send us your product codes (EANs). If there are no EANs, we can jointly look at the options available.
In SYMSON you can select the items you want analysed as well as the optimisation goal, either margin increase or revenue increase.
Gain insights into the price elasticity of your products’ demand and evaluate the impact of price changes
Our Predictions Solution mainly uses sales data in your ERP. The minimum requirements consist of prices, costs, margins, invoice IDs, quantities, invoice dates and product IDs.
After setting up your strategy in SYMSON, adjusting product prices according to price elasticity is done automatically.
No need to worry! SYMSON is able to gather data from multiple countries with regard to competitive prices.
Absolutely! You can assign multiple strategies to your product(s) in order to experiment and identify the ones that contribute the most to your business objectives.
Both options are possible. You can set up the module for maximum margin or revenue. It is also possible to manually change the prices or overrule the advised prices of SYMSON. If you want to see this by yourself, please request a demo.
The answer depends on your assortment. Do you have a lot of popular products or A-Brands which are offered by many vendors? Is price a key factor in your customers' decision to choose your store? Then competitor pricing for these specific products might be a good solution to increase your pricing position and attractiveness in the market. Run Predictions and find the right course of action!