![]() Price dispersion analysis: Provides data visualization for price/volume relationships, profit leaks, and statistical outliers.Pricing waterfall: Quantifies true net prices, price leakage between list and pocket prices, and capturable lost revenue.Price value map: Assesses customer perception of brands and their industry positioning.Iris’ Pricing Insights Generator offers four primary pricing features: Iris Pricing Solutions is a relatively new pricing tool for strategy implementation and analytics focused on use in retail, ecommerce, manufacturing, distribution services, and healthcare. Anomaly and pattern detection: Monitors internal and external data sources for potentially significant anomalies and outliers. ![]() Predictive and prescriptive recommendations: Recommends specific actions tied to transparent, data-backed analysis and simulation and generates forecasts for categories such as profitability, inventory, cash management, and promotional events.Proactive and timely monitoring: Focuses on identifying risks and opportunities in pricing data by constantly monitoring competitor pricing, market conditions, and other variables such as weather, geopolitical events, and regional logistics.Featuresįor pricing, Hypersonix excels in several categories: Applying minimally supervised machine learning algorithms to historical data and a wide range of external conditions, Hypersonix delivers actionable recommendations based on transparent probability assessments and exhaustive simulation data. Hypersonix Profit OS is an AI-driven pricing and inventory optimization platform. Top Pricing Tools Currently on the Market Systems integration: Integrates with a business’s existing IT stack so that pricing data populates in other systems, such as customer relationship management (CRM) software and enterprise resource planning (ERP) platforms.Competitor price tracking: Monitors prices currently available from selected competitors.Pricing automation: Automatically adjusts prices for different products and services based on selected price strategy and within set limits.Price optimization: Simulates a range of price adjustments over time to calculate optimal prices.Pricing tools are customizable in the sense that businesses can use them to implement different kinds of pricing strategies – such as competitor pricing, profit optimization, or market penetration pricing – and monitor different price-related metrics.Ĭommon features pricing tool platforms offer include: Pricing tools enable these businesses to make faster price adjustments and price strategy implementation than is possible with manual price setting. It’s especially useful for businesses that often change prices – such as ecommerce stores and on-demand service providers. A pricing tool is a customizable application businesses use to set prices for products and services.
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