CHALLENGES

Today's challenges of pricing managers

Many gut feeling decisions

Pricing managers need to know what is the optimal price taking into account all the market circumstances and customer behaviour. You want to validate your gut feeling to determine what is the optimal discount and price. You need the right data to make informed decisions and you need smart algorithms and software to improve these decisions. SYMSON provides the most transparent algorithms in the industry. Read More.
We bring together scientific research, data science and software engineering to automate and optimise pricing. You want to validate your gut feeling to determine what is the optimal discount and price. You need the right data to make informed decisions. And you need smart algorithms and software to improve these decisions. SYMSON provides the most transparent algorithms in the industry. We bring together scientific research, data science and software engineering to automate and optimise pricing. Collapse...

Hard to take into account all factors of the pricing process

Nowadays there are many relevant pricing factors that should be taken into account when setting prices. These factors include competition, price sensitivity, internal KPI's, rising costs and product popularity. Taking into account all these drivers and data points is a huge challenge. SYMSON helps you with that and lets you combine multiple strategies together.

Not enough knowledge about data science and AI

AI and ML systems nowadays can be a black box, a lot of them operate behind a curtain and don't give you the full picture. These algorithms can go through copious amounts of data and bring you the most accurate results, however not being able to monitor and understand a wider adoption in the organisation. Read More.
SYMSON is aware of this challenge and focuses on Hyperlearning™, which explains the logic behind the pricing algorithm so that the user understands the outcomes better. Collapse...

Not having insights of product performance and price sensitivity

To have an effective pricing strategy, it is important to understand the price sensitivity of a particular product. Price sensitivity is commonly measured using the price elasticity of demand, which means that some consumers won't pay more if a lower-priced option is available. Read More.
SYMSON helps you get insights into the price sensitivity of a particular product in your assortment. It will help you set the optimal prices and optimise your profit. Collapse...