BiPredict - Solutions

By: Bipredict  06-Dec-2011
Keywords: Data Mining



Effective Price ManagementEffective and consistent pricing strategies are key to improving shareholder value. BiPredict focuses on developing BI solutions and data mining applications for retailers and distributors to optimise pricing decision-making. BiPredict product 'BIpro Desktop' provides data-driven price management capability to companies using price optimisation science combined with powerful analytics.Price Analytics for Ultimate Price InsightBipro tool produces clear, actionable insight into critical pricing issues such as revenue and profitability, inconsistent discounting, and product mix improvement potential.
BIpro tool allows companies to answer and act on complex pricing questions, such as
  • Which products or categories are most sensitive to price changes?
  • For each price sensitive product or category what price shifts a specific amount of inventory?
  • For each price sensitive product or category what price deliver maximum profit?
  • If we plan to shift a specific product volume over a period of time, what would an optimal price for this task?
  • If we plan to change the price of a product, how many units of this product we could shift over a specific period of time?

Bipro tool delivers a complete view of pricing performance, empowering business users across the organisation to improve margins, revenues and overall profit.

Price Optimisation

Many companies rely on outdated practices such as cost-plus or meet-competition to set their prices because "that's the way we've always done it." A better approach, known as price optimization, provides a proven, quantitative means of setting prices that dramatically improves margin performance and directly boosts revenue and profits. BIpro desktop application helps to increase profits significantly. 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. These differentiated prices are precisely aligned with market conditions, providing pricing decision makers with negotiation guidelines that yield more profitable pricing outcomes on every deal.

Practical Price Optimisation for Retail Environment

BIpro tool is built on a foundation of robust mathematical models that uses your data to quantify actual market price response. It produces recommendations that align with your market and make sense to sales people. This software solution enables companies to achieve the best pricing possible on every deal and to turn pricing into a source of ongoing competitive advantage.

Keywords: Data Mining

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BiPredict - Products

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.