With the constant evolution of business requirements and the onset of new and ever-growing data sets from varied sources, Vistex’s Data Science Team can help you rethink your pricing strategy and unlock new avenues for growth, profit, and competitiveness.
Pricing strategy is a core function of your organization, but it requires constant change and adaptation to achieve profitability targets. Vistex supports your business needs by incorporating smarter AI/ML (Artificial Intelligence/Machine Learning) functionality with continual refinement to fully optimize your pricing practices.
Combined with an in-depth understanding of Vistex Solutions for SAP and with alignment to our broader Services, our Data Science team provides a range of service offerings and innovative packages to support your business needs, providing you with opportunities to gain additional value from your investment.
Enhance user experience with the activation of data science packages:
Your pricing team can leverage the knowledge, expertise and experience that has been aggregated, tested, refined, codified and productized by Vistex. Standard packages that can be activated and configured quickly to enhance your pricing process include:
Pricing guidance and bid management for specific
prices and discounts
List pricing that includes dynamic rules, hygiene factors such as brand positioning, good-better-best and responsive metrics
Trade promotion management that estimates the impact of temporary incentive programs
Before activating and configuring a package, we first establish the best configuration
with a data-driven analytic validation run (AVR) that includes:
Business process
review
to identify the pricing use cases to be supported
Feature
engineering
to derive attributes that are meaningful and interpretable from a business perspective
Results on
hold-out period
for in-depth review by the users
After this validation run, the package can be deployed swiftly by leveraging standard templates that utilize the recommendations in the Vistex product suite. Post-activation, we can help monitor your solution, keep it up-to-date, and identify opportunities that could provide additional value. When new technologies or business models emerge or when you have a specific pricing challenge that needs immediate resolution, our Data Science Team is here to help.
Industry Leaders Turn To Vistex
Utilize Data Science Services To Refine Your Pricing Strategies
Continuous Improvement in Data Science
Your business practices continue to evolve while our team
improves and enhances your data science functionality
- Solution health check
- Solution environment review
- Managed services
- Value assessment for enhancements
- Continuous integration, delivery and deployment
Data Pricing Capabilities
Vistex integrates with your analytics platform and capabilities by making
pricing data and pricing-specific functionality available in the form of web services
- White space analysis
- Churn analysis in 82B
- Forecasting handling costs
- Attribute analysis
- Seasonality analysis
- List price analysis
- Estimating demand with low inventory
Transformational Services
The digital transformation offers many opportunities for change, well beyond automation. There are many aspects of your pricing process that can be transformed. This could include the introduction of alternative pricing models such as subscription or usage-based pricing models. Another example could be possible benefits of more sophisticated strategies for your depth of distribution
- Self-starter kits to launch pricing improvements for list pricing and price negotiations
- Scientific impact analysis for measuring the impact of introducing alternative pricing modes
- Generative opportunities make your verbal interactions with a pricing solution more meaningful with a solid pricing process including rigid and consistent price action monitoring and evaluation
What’s your data trying to tell you?
Data Science and Pricing Resources
Revealing the Unknown: Strategic Analytics and Data Science in the Life Science Industry Webinar
With Data Science, our customer:
Provided a 2.16% uplift in revenue during agreement renewals for a composite materials company