Data science maximises pricing precision and extrapolates into the unknown. Advanced analytics enhances the effectiveness of each and every step of the pricing cycle:

• Customer/product segmentation: Techniques such as Cluster Analysis and Principal Component Analysis enables to scientifically segment customers and/or products

• Feature optimisation: Simple and sophisticated Machine Learning models enable to accurately compute the importance of the product features and estimate the impact on demand

• Price setting: Application of Machine Learning models on historical transaction/POS data enables to estimate price elasticity and identify key drivers of price sensitivity in turn allowing to optimise prices for both existing and new products

• Pricing implementation: Business Intelligence enables to effectively monitor the progress of pricing execution as well as the results

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Pricing Stratz has enabled numerous clients to extract the benefits of advanced analytics while balancing between the accuracy of the model and the complexity of adoption and carefully testing the recommendations prior to full-fledge implementation.​