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Use historical sales data to run predictions of future performance
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!
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? Then you can also combine different strategies with our Pricing Strategy Builder.
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 demand of your products and evaluate what impact the price changes have
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.
After setting up your strategy in SYMSON the process of automating the prices of products according to their elasticity is done automatically.
Basically not, SYMSON is able to find multiple countries competitive prices.
Yes that is possible! You can give product (groups) multiple strategies in order to experiment which contributes the most to your business objective.
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.
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.