prudsys RDE Modules

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RDE | Pricing

prudsys RDE | Pricing

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prudsys RDE|Pricing - tool for dynamic price setting and optimisation

The prudsys RDE | Pricing module is the world's first tool for dynamic price setting and optimisation. It automates optimum pricing and includes product profitability calculation and sales control. The module will continuously update product prices, batch-wise or in real-time, to match changes in market and business conditions.

Your benefit: Maximisation of earnings taking into account price and sales volume, optimized exhaustion of profit margins and price testing

Business scenarios

The prudsys RDE | Pricing module enables real-time price optimisation on the basis of user acceptance at all touchpoints. Particularly in the web shop, where customer reactions to changed prices can be measured immediately, dynamic price optimisation leads to optimal use of the profit margin. In addition, bargain and white label shops are ideal for using dynamic pricing. Other possible uses come up in the area of modern scales and digital price tags in high street shopping as well as when it comes to price search engines.

How it works

The prudsys RDE | Pricing module analyses a variety of data including information about product value patterns, sales ranking, customer assessments and shelf availability to arrive at optimum product price. The module defines the optimum price for the current product and then creates separate price variations designed to increase turnover. Numerous parameters such as variance, upper price limit, lower price limit and time intervals between price changes can be defined by retailers themselves.

Advantages

  • Price variation testing
  • Sales control
  • Recommendations from real-time learning of user behavior
  • Fully automatic 'Install-and-Forget' procedure
  • Integrated success rate measurement

Key features prudsys RDE | Pricing

Applied algorithms:       
Number of algorithms: 10, e.g.

  • Function approximation
  • Reinforcement Learning

 
Integrated performance measurement:

  • Supports A/B Testing and multivariate tests
  • Real-time statistics

Output channels:

  • Internet
  • Call center
  • Stationary trade/high street shopping (e.g. checkout, sales display, terminal, scale)

Applications:

  • Margin optimisation
  • Optimisation of sales controls
  • Price simulations
  • Price optimisation taking into account the purchasing patterns of customers, seller's skills, the gradient value of fresh and the product availability

Related downloads

Title Filesize  
Flyer prudsys RDE
503334 pdf download
Flyer RDE | Pricing
386646 pdf download
Success Story: Sometimes less is more

Dynamically optimised prices in online shop
(Business case, 2010)

101274 pdf download
Whitepaper: Dynamic price optimisation for the retail market

Guide to the use of automated pricing methods

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