NEW YORK – June 19, 2014 – Ugam, a global leader in managed analytics, today announced the release of a new eBook titled, PRICING INTELLIGENCE 2.0: The Essential Guide to Price Intelligence and Dynamic Pricing. The book offers a comprehensive overview of pricing intelligence and provides detailed, practical information to help retailers understand how they can modernize their approach.
Rather than engage in price matching, retailers have the opportunity to employ data-driven dynamic pricing strategies that respond to a range of consumer demand signals and other factors to maximize return. PRICING INTELLIGENCE 2.0 lays out exactly how to seize on this opportunity, drawing from Ugam’s deep expertise in retail analytics. The eBook also features a Q&A with industry expert Kevin Sterneckert, a former vice president of research for Gartner.
The outline of the eBook is as follows:
- Chapter 1: Welcome to the New World of Pricing – Evolving buyer expectations, technological advancements and competitive data are creating new opportunities and new challenges for retailers. This chapter explores the new world of pricing transparency, the increasing price sensitivity of consumers and what retailers need to do to stay ahead.
- Chapter 2: The Price Match Trap – Price matching can be a race to the bottom. This chapter examines the real cost of price matching, and how retailers can strategically avoid and combat this tactic. Kevin Sterneckert explains why trying to match prices with Amazon is “like showing up to a gun fight with a pixie stick.”
- Chapter 3: An Introduction to Pricing Intelligence – How do you turn volumes of freely available intelligence into a competitive edge? This chapter explores how to efficiently monitor your competitors’ prices, accurately compare them with your own, enrich raw data for effective analysis, and turn the numbers into actionable insights.
- Chapter 4: An Introduction to Dynamic Pricing – Retailers can go beyond price matching and use data and analytics to sense and act upon what the customer is willing to pay at any given time. This chapter discusses how to determine prices by using consumer e-demand signals, competitive information, retailers’ internal data and other factors like holidays and weather.
- Chapter 5: The Human Factor – With Amazon alone making millions of price changes every week, it is impossible to track the competition without technology, but even that technique can only take you so far. This chapter explains how human analysis uses computer-gathered data to explain what’s happening now and build pricing models to predict what will happen next.
- Chapter 6: The Future of Pricing Intelligence – The opportunities for dynamic pricing and personalization include individual-focused pricing, loyalty pricing, first-time customer pricing, and more. This chapter examines what’s on the horizon and what retailers need to consider as they think about the next steps in their overall personalization strategy.
- Chapter 7: How to Get Started – The final chapter looks at the ins and outs of pricing intelligence solutions and shares tips on what a retailer should make sure is included in their contract to ensure that they retain ownership of their data. It also provides best practices for measuring success.
Ugam is a global leader in managed analytics. Combining a proprietary big data platform with a global team of insights and analytics experts, Ugam’s unique offering empowers clients with the confidence necessary to take action that impacts their business. Clients trust Ugam because they deliver unmatched customer experience and specific results. That trust is also based on deep domain expertise, end-to-end service, innovation and the highest quality of insights and analytics, which enable Ugam to transform big data into big insight and direct action. As a result, 9 of the largest 25 retailers, many of the world’s largest brands and online marketplaces, and 12 of the top 25 market research firms turn to Ugam today to help improve their business performance. www.ugamsolutions.com
For more details, please contact:
Davies Murphy Group