Quickly Predict Buyer Behavior and Competitor Movement
The NEW PriceAdvantage Predictive Modeling component utilizes big data, machine learning, and artificial intelligence (AI) to help fuel retailers better predict customer tolerance for price increases and competitor movement. Using historical trends, PriceAdvantage can quickly predict buyer behavior and help fuel retailers play to their preferred market position. Yet a retailer cannot rely solely on AI – there needs to be human interaction. PriceAdvantage boasts an easy-to-use control center where machine learning and the fuel pricing analyst’s market knowledge intersect to create an effective pricing strategy unique to each store.
The PriceAdvantage Economic Model allows you to:
Use big data and AI to establish ideal market positions and understand competitor reactions.
To see the impact of positioning on volumes and profits through interactive analysis tools.
Leverage human interaction – such as analyzing market positioning trade-offs between volume, margin, and brand perception to set pricing strategies – that can significantly impact both long-term store performance and customer perception.
“We used to spend a good part of the morning collecting surveys, inputting data into a spreadsheet and then submitting prices to the clubs. Now we are able to make price changes in under an hour, instantly receiving a confirmation that it has been completed, correctly.”