New York, NY, July 12, 2018 --(PR.com
)-- Intelligence Node, an award-winning retail intelligence firm, is excited to announce the launch of 360°Pricing™, the first in a series of upcoming feature releases to its product suite. The new feature helps retailers look up the most competitive price on the market for any product with just a URL or SKU ID, allowing them to test multiple pricing strategies using a proprietary machine-learning algorithm.
360°Pricing™ comes as a defining update to Inoptimizer®
- one of the company’s flagship products. Conceived from a need to streamline pricing strategies across vast e-commerce catalogs in real-time, the revamped optimizer plugs in holistic insights from key drivers like price elasticity, purchase history, inventory levels, and seasonality. The client can switch between strategies that take into account the pricing movements of multiple competitors as well as their internal data with modes such as liquidation and sales velocity. This allows retailers to formulate a truly optimal, 360°price that is most likely to maximize sales conversion and margins.
“We’ve always tried to address imminent challenges retailers would encounter in the online arena. Our new release goes to show how much we care about giving the complete picture to decision-makers trying to arrive at the best possible retail strategy. It’s a part of our on-going efforts to enable smarter, AI-led retail by removing any blind-spots,” says Sanjeev Sularia, CEO & co-founder of Intelligence Node.
“With 360°Pricing™ you have a pricing engine that monitors competitor prices real-time, learns and improves sell-through and margin efficiencies, while keeping it relevant both in terms of seasonality and customer preference. A team of advanced analytics professionals and data scientists bring in that bit of nuance to our process, which goes beyond simple price history and differentiates our pricing insights from the noise that comes with poorly refined, context-deprived data,” he adds.
The new pricing tool is designed for retail merchandisers, pricing analysts, product strategists, inventory planners, and team leaders in need of retail insights to shape business decisions. It comes with user-friendly dashboards and a notification system making it suitable for use across different teams without needing any elaborate integration. The company can be contacted for a detailed walk-through of the new feature and its applications.
About the company: Founded in 2012, Intelligence Node Consulting Pvt. Ltd. caters to retail clients in 13+ countries. We are currently serving more than 100 retailers and brands worldwide, including category leaders like Tesco, Mobly, TATA, Landmark, Li&Fung, and Jockey. Our insights are powered by the world’s largest global retail product index, unmatched in accuracy, mapping 1 billion+ unique products across 130,000+ brands for more than 1400+ categories every day.