BiPredict - Products

By: Bipredict  06-Dec-2011



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BIpro Lite

BIpro Lite is a price management application that allows the user to model different price assignment scenarios to achieve budget or profit goals. It can scan a relational, or flat file databases in order to search for either categories or individual products, which are sensitive to price changes. These types of products are also called price elastic products. For each found entity BIpro Lite builds a specific demand model based on (Price, Quantity) ~ patterns using our proprietary definition of as a more reliable measure of the price sensitivity. These models form the basis for prediction of either price or sales quantity.

BIpro Lite is a price and revenue optimisation tool, designed as a price management decision support tool. The BIpro Lite main features are:

  • it processes data from any ODBC or OLE DB compliant relational databases,
  • it works with any custom merchandising hierarchies that are normally modelled by several related database tables (e.g. Department, Category, Sub-category, Brand, and Barcode) by mapping them into the BIpro internal generic hierarchical metadata,
  • it is able to perform price or quantity prediction on any category or product (SKU) level that gives powerful category management leverage to a marketing manager,
  • it is able to identify categories or products that are highly or mildly sensitive to price changes or insensitive (inelastic); this reduces research time a) for products that might give significant promotion uplift or b) for products that could be sold at higher or lower prices,
  • it employs mathematical algorithms that generate robust category or product demand models that form the foundation for price or quantity predictions; those algorithms rely on proprietary implementation of elasticity definition that allows filtering random fluctuations of quantity that might coincide with price changes.

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BiPredict - Solutions

By leveraging differences in price response hidden in transactional and market data, the applications enables companies to maximize margins by setting differentiated prices in response to varying circumstances. Bipro tool delivers a complete view of pricing performance, empowering business users across the organisation to improve margins, revenues and overall profit.