Pricing Optimization
Fine tune the flow of goods or services through your business to meet your sales, product, and inventory goals
In balancing customer demand, inventory, and your bottom line, pricing may be your most influential tool. But it’s also the most homework.
Nousot Pricing Optimization is like an automated team that handles the work of pricing for you—and delivers you dynamic price recommendations, plus options for discount cadences, tailored especially for your products.
Now you can pull the pricing levers that are best for your business, rather than guess at them.
How It Works
Nousot Pricing Optimization produces a custom pricing model for the products you need to know how to move. Here’s what it does:
1. Collects and cleans all your sales data for the product you’re looking to price. Our team works with yours to build a custom, automated data pipeline.
2. Enhances your sales data with GlobalPulse, which contains data on similar products in the market.
3. Examines the combined data to identify sales patterns, consumer behavior, and market effects across locations and time.
4. Determines the unique seasonality of your product by examining the effects shown in data, rather than relying on typical calendar inputs.
5. Transforms the data into a time series unique to the product.
6. Determines an optimal initial price for the product.
7. Calculates additional price options to use over time. This way you can choose among initial price points and discount cadences, depending on your sales and inventory goals.
8. Displays the various pricing curves in an interactive UI.
9. Integrates with your point-of-sale system and applies your business rules so that you and your team can make pricing decisions in real time.
10. Automatically refreshes your pricing intelligence by updating recommendations with new data as it becomes available.
Product Benefits
Nousot can help bring these product benefits to life at your organization.
Custom prices per product
Nousot Pricing Optimization doesn’t rely on static pricing strategies or buyer personas. It is always observing your products, calculating your customers’ propensity to buy them, and tailoring its pricing recommendations accordingly.
Inventory control
Which products do you want to move more quickly? Which are you willing to hold on to, and for how long? Where could you experiment with discounts without adverse brand impact? Nousot Pricing Optimization gives you the freedom to ask and answer these questions, and more.
Decision support, on demand
Pricing is one of the most resource-intensive efforts in industry today. Nousot provides you with all of the analysis to do it well, with little additional work from your team.
Business flexibility
Market conditions may change unpredictably, but with Nousot Pricing Optimization, you always know how to change with them to protect your growth goals.