Codon Consulting | Project | Real-time decision support for product pricing

A large Nordic online retailer was setting prices across a big catalogue without a clear view of how sensitive each product was to price, and without visibility of what competitors were doing.

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We embedded a senior data scientist to model price sensitivity product by product and build decision support for real-time pricing. The models propose better prices for the top-selling products and explain why each price should move, and a separate tool flags competitor price wars as they start.

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A large Nordic online retailer was setting prices across a big catalogue without a clear view of how sensitive each product was to price, and without visibility of what competitors were doing.

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Value for the client:

Improved prices proposed for the 150 top-selling products
A clear explanation behind every recommended price change
Early warning of competitor price wars at product level
Decision support fast enough for real-time price setting

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