Overview
IBM Dynamic Pricing is a cloud-based offering that helps online retailers automatically respond in real time to changes in competitive prices, product demand, and market conditions.
Rather than making pricing and business decisions based on intuition or limited analytical insights, IBM Dynamic Pricing recommends an optimal response to drive sales and increase revenue.
IBM Dynamic Pricing automatically assimilates new data and improves without requiring human intervention. IBM Dynamic Pricing combines web data, such as page views and cart abandonment (including sales, inventory, and the most recent competitive pricing information). It uses pricing intelligence to recommend the optimal pricing action to achieve your business goals.
- Create pricing recommendations
- You can quickly create pricing strategies based on your products, the prices of your competitors, and specified rules.
- Price products in real time
- IBM Dynamic Pricing provides pricing recommendations at the scale and speed that is needed in an ever changing retail environment.
- Bring together online and offline prices
- You can coordinate prices across touch points. IBM Dynamic Pricing uses data and insight from physical stores to influence online prices.
- Sense and react to out-price competitors
- IBM Dynamic Pricing uses science and cognitive capabilities to tune your pricing strategies. These advanced mathematical models help you improve recommendations and drive more intelligent pricing decisions.
- Automate processes to achieve faster business outcomes
- You achieve business outcomes faster with an intuitive pricing system that is designed for online merchandisers. Automated processes help you focus on critical pricing, manage by exception, and save time.