How IBM Dynamic Pricing works
Get competitive data in real time
Retailers and most third-party vendors can easily connect to the open platform, which enables the flow of competitor pricing data into the Dynamic Pricing software in real time.
Cognitive models constantly optimize pricing strategies
In today’s fast paced omnichannel retail world, it is important that you have a rules-based pricing strategy. With thousands of SKUs, it is physically impossible to monitor prices for all your products. This is where Dynamic Pricing can help. You can automatically price your products using custom rules based on your business needs, such as brand, competitor, cross-channel, preset price, price rule - SKU limits, price rule - product group, profit and much more.
Schedule automated pricing actions or act in real time
With Dynamic Pricing, you can schedule pricing strategies to run at set times or as soon as new data arrives. Real-time mode initiates pricing action as soon as new data arrives. Prices are generated and immediately exported to the retailer's downstream price execution system, which then sends the new prices for display on the retailer website or to electronic shelf tags.
Quickly integrate with IBM WebSphere Commerce
Dynamic Pricing is integrated with IBM WebSphere Commerce to enable organizations to deliver seamless and personalized digital customer experiences and online stores. Not only is the Dynamic Pricing on-boarding process quicker and easier with this integration, the newly optimized prices are updated in WebSphere Commerce and can be displayed to customers within a minute of approval. All of this provides an enhanced setup and ongoing operational experience.
Dynamic Pricing must be accessed using a supported web browser: Google Chrome version 41 and later for Windows™ 7 and MacOS; Mozilla Firefox version 36 and later for Windows™ 7 and MacOS; Microsoft™ Edge for Windows™ 10; Apple Safari for Mac; Mobile Chrome on iOS and Android; Mobile Safari on iOS for the iPhone and iPad.
There are no hardware requirements for Dynamic Pricing.
No software installation required, completely cloud-based application.