Background

Business is directly impacted by fluctuating operating costs and it can be challenging to understand the impact of operating cost on profitability because expenses and revenues are often tracked in separate systems. Objective was to optimize the price and discounts to adjust the performance.

Solution Implemented

  • Based on our machine learning-based pricing, we are able to extract the most insights from the provided data. Most frequently, this leads to a significant improvement of the Status Quo (e.g. higher profit).
  • Model predicts the optimal prices which meets specific business objectives and determine the price elasticity of products.
  • For Price optimization these features are considered for building out the model geography, no of vendors, no of products, electronic and non electronic invoices etc.
  • Visualization to analyze the price vs performance and the impacts of discounts and campaigns.

Outcomes

By leveraging the data platform effectively, we had built a cost effective analytics solution to arrive optimized price recommendations that helped to increase revenue margins and optimize sales volume. Dashboards gave clear visibility on the effect of price and discounts on revenue.

  • Domain

    Logistics

  • Methodology

    Agile with sprint every 2 weeks

  • Duration

    1 Year

  • Resources

    10

  • Project Status

    Live
    AMC support

  • Technology Used

    pricing_strategy

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