Pricing experts, Dallas Crawford and Dan Barrett of QueBIT recently shared best-in-class solution in Enterprise Technology Review. Read the article authored by manufacturing journalist, TR Cutler here.
Crawford suggested that PriceAlign’s Machine Learning models can be more adaptive than typical time series models in the pandemic environment. Adding more qualitative and timely input variables (like fuel costs) allow the model to be more contextual and tolerant to the aberrant data collected during this unique event. The pandemic gives manufacturing organizations, which embrace the PriceAlign technology, the opportunity to study and model the effects to be better prepared for future events.
Barrett is convinced while the pandemic is an important driver for price aligning, it remains just one factor impacting manufacturers on the demand and supply side.
In weeks, the automated pricing data ensures that manufacturers are able to visualize customer segments driven by variables that shape demand, such as demographics, allowing for more targeted and dynamic pricing adjustments. Only through automated price alignment are mid-sized manufacturers able to raise pricing strategies to new levels of sophistication, achieving dynamic pricing based on a variety of factors, and understand price elasticity across different customers, products, or regions.
Enterprise Technology Review provides news, views, and advice on technologies used in business beyond Information Technology.
QueBIT PriceAlign enables robust management of pricing strategies, while eliminating implementation time, complexity, and costs typically found in other pricing solutions. PriceAlign delivers significant improvements in revenue and margin by providing a clear, guided user experience via insightful dashboards and comprehensive pricing science. The ease of setting and managing pricing boundaries sets this solution apart.
PriceAlign delivers significant efficiencies for any organization using simple rules or trial-and-error methods to derive prices, especially if corporate objectives include adjusting and maintaining prices at the most granular level. This best-in-class solution allows customers to maximize margins, retain customers, and grow market share through optimal pricing strategies including:
- Cost Plus
- Value-based pricing
- Dynamic Pricing
- Price Elasticity
PriceAlign gives customers enterprise-wide control of the entire pricing process by raising pricing strategies to new levels of sophistication. Through rapid deployment, customers achieve dynamic pricing based on a variety of factors and understand price elasticity across different products or regions. The recent global pandemic has clearly demonstrated the need and benefit of rapidly adjusting prices down to the most detailed levels and market conditions. Follow QueBIT PriceAlign on Twitter at @AskQueBIT and connect on LinkedIn.
Company Name: QueBIT
Contact Person: Jennifer Field
Address:49 Secor Road
Country: United States