Pricing alchemy for a fast-moving world
Brands that sell products and services online often have a the ability to adjust their prices whenever they want. However, changing a price also changes demand – and often the relationship between these two factors is unclear.
We have developed pricing engines tuned to our clients’ industries and products. Our data scientists are actively developing new ways to train our systems to learn the relationships between prices and demand – whatever the industry in question.
We developed a revenue management capability for one
of the world’s largest sellers of ticketed events
Our client was one of the world’s largest operators of venues within its sector. The client had a dedicated revenue management function whose role was to determe how to price tickets, both to optimise yield and ensure that venues were filled. The client believed that becoming more data-driven in this regard would improve their ability to manage revenues, and they turned to us for assistance.
Our team developed a complete revenue management platform for managing and reporting on sales. The data we collected enabled our data scientists to embed algorithms for forecasting sales, benchmarking events and executing pricing updates. Our data scientists are currently working on algorithms that learn the best pricing adjustments to make at any given point in time, enabling a true revenue optimisation capability.
We turn streams
of data into new