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Pricing
A man setting up a Dynamic Pricing Strategy in the AI Pricing Platform SYMSON
CURRENT COMPETITIVE LANDSCAPE

Why Price Prediction
is the key

Use historical sales data to run predictions of future performance

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From Emo-Driven to Data-Driven Pricing
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Increase Pricing Potential with Price Elasticity
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Get Recommendations where to Improve
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A group discussing the Scenarios for Price Optimisation in the Smart Dynamic Pricing software SYMSON
GET AHEAD OF THE COMPETITION

Run scenarios to optimise

Knowing whether the products in your company are elastic or not can help you increase the revenue and margin greatly. The price elasticity of demand indicates to what extent the demand for a certain product changes when the price of that product changes. SYMSON uses the AI and ML tool to run analysis on all products and depending  on what you choose it automatically suggests the most optimal price for higher revenue or higher margin. SYMSON offers the opportunity to predict optimal prices based on elasticity for every product and for every time frame.
You will be able to:
Get recommendations where to improve
Take the first steps in machine learning pricing
Combine data and experience to improve your pricing
Increase revenue or margin
THE MOST IMPORTANT DATA POINTS

Start your price predictions

Run predictions on products using historical sales data to determine the most optimal price for margin or revenue.

Follow competitors

The software uses all historical sales data and determines the price elasticity of each product simultaneously.

Add Business Rules

Business rules apply constraints that fit your specific business case.

Analyse the results

SYMSON presents all the data used for the analysis so you know the logic for a suggested price.
A Dashboard of a Price Optimisation in the Intelligent Pricing Software SYMSON
SMART FEATURES

Key Features of the Predictions Solution

The Predictions Solution has 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!

The Functionalities of Price Predictions:

Out of the box tools delivered by our pricing engine.

Optimise for Margin
Run scenarios for different customer groups or time periods
Run scenario’s to predict outcome
Data Quality checker
Recommendation based upon Pattern recognition (Seasonality, Markettrends etc)
Margin Optimalisation Impact
Visualizations and insights
Result Data Driven Explanation

CUSTOMISE YOUR STRATEGY

Predict your prices

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? Then you can also combine different strategies with our Pricing Strategy Builder.

Explore All

The Predict Solution in action

Decide your desired price positioning
Benchmark your price with the right competitors
Get notified when needed
Select prices for different regions and market places
Start Your Custom Demo
Apply machine learning
Apply business rules
Optimise price elasticity
Run scenarios for different customer groups or time periods
Start Your Custom Demo
SETTING UP

How it works in SYMSON

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.

1. Send your product data

Send us your product codes (EANs). If there are no EANs, we can jointly look at the options available.

2. Select products for price prediction

In SYMSON you can select the items you want analysed as well as the optimisation goal, either margin increase or revenue increase.

3. Get valuable data to increase revenue

Gain insights into the price elasticity of demand of your products and evaluate what impact the price changes have

THE GAINS

Benefits of Competitive Pricing

Adopt Hyperlearning™

Find the right balance between intuition, experience and machine recommendations with Hyperlearning™.

Increase sales

Business owners may be able to increase sales when the elasticity of demand is high for the types of products or services they sell. With SYMSON you can know which price points generate the greatest amount of revenue.

Make more intelligent decisions

AI-systems often make decisions, but leave their users in the dark about how those decisions have been made. Make use of AI in your decisions to create a human-centered partnership model of people and technology.

Get more control and insights

Implementing price elasticity can help you be fully in control of customer behavior and provide you with valuable insights.

Increase the margin on your products

Price prediction will help you boost your margin and revenue on each product and contribute to your company growth.

Set an optimum price

Knowing which products are elastic, company marketers can test various pricing scenarios, setting prices low, near the competitive average or higher. Therefore, they can then compute which price point elicits the greatest profit margin.

Here's what our customers say

16k
Products optimised
The Head of Commerce from Vink a client of the Automatic pricing software SYMSON
“SYMSON helps us to apply a better pricing structure based on customer behavior.” - Robbert van Dijk, Head of Digital Commerce, Vink Plastic Materials
HAVE A QUESTION?

Frequently Asked
Questions

Got a question? We're here to answer! If you don't see your question here, drop us a line on our Contact Page.

What data do I need to run predictions?

The data that is required for running Predictions mainly consists of sales data in your ERP. The minimum requirements are prices, costs, margins, invoice ID’s, quantities, invoice dates and product ID’s.

Can I automate price elasticity?

After setting up your strategy in SYMSON the process of automating the prices of products according to their elasticity is done automatically.

I am not sure if I have enough data, how can I make sure I have the data I need?

Basically not, SYMSON is able to find multiple countries competitive prices.

Can I also the run predictions package with other strategies?

Yes that is possible! You can give product (groups) multiple strategies in order to experiment which contributes the most to your business objective.

Is the software fully in charge of the pricing or can I customise it and make changes myself?

Both options are possible. You can set up the module for maximum margin or revenue. It’s 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.

Can I profit even if my products are inelastic?

The answer depends on your assortment. Do you have a lot of popular products or A-Brands which are offered by many vendors? And is the price a key factor in the customer decision to choose for your store? Then competitor pricing for these specific products might be a good solution to increase your pricing position and attractiveness in the market.

Trusted by
Rituals, a client of Dynamic Pricing Platform SYMSON
INDI, a client of AI Smart Pricing Software SYMSON
Timing, a client of Intelligent Pricing software SYMSON
BUNZL, a client of Dynamic Pricing Platform SYMSON
Fotocadeau.nl,  a client of Dynamic Pricing Platform SYMSON
Noviflora, a client of Intelligent Pricing software SYMSON
Heuver, a client of AI Smart Pricing Software SYMSON
VInk, a client of Dynamic Pricing Platform SYMSON
Toolsidee, a client of AI Smart Pricing Software SYMSON