LONDON--(BUSINESS WIRE)--A global data analytics and advisory firm, Quantzig, that delivers actionable analytics solutions to resolve complex business problems has announced the completion of their latest pricing analytics engagement for a leading home furnishings brand. During the course of this engagement, the analysts at Quantzig helped a retailer to analyze vast datasets to assess and clearly understand the external and internal factors affecting profitability.
Today, many retail companies have realized the importance of data in making effective pricing decisions, but many haven't yet stepped up to the challenge of effectively managing their data to get their pricing strategies right. The rise in new product launches, an uncertain economic environment, and technological disruptions coupled with a demanding customer base are just a few among the many challenges faced by retailers, today. To gain a competitive advantage, retailers will, therefore, have to consider tapping into the vast datasets to answer crunchy questions that are essential to improve performance in these demanding times.
The Business Problem: The client is a renowned German home furnishing retailer, catering to the needs of a fast-growing customer base. Owing to the high complexity surrounding the retail segment the client found itself struggling to improve profitability and demand. This is when they approached Quantzig to leverage its pricing analytics expertise to test their in-retail market price elasticity.
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“In today’s uncertain economic environment, pricing analytics acts as a powerful lever that improves a company’s top-line and bottom-line performance,” says a pricing analytics expert from Quantzig.
The Solution Offered: To help the client tackle their pricing challenges, we employed a dedicated pricing analytics team that offered customized solutions aimed at improving profitability. Robust pricing strategies backed with pricing analytics models acted as a catalyst for leveraging profitability. The solutions offered not only enabled the client to analyze the external and internal factors affecting profitability, but also helped them witness a massive turnaround with actual sales exceeding the predicted value by over 15%.
Extracting pricing insights from disparate datasets can be a challenging task for retail companies. Request a free proposal and know how pricing analytics can help you gain a leading edge in the competitive retail environment.
Quantzig's pricing analytics solutions helped the client to:
- Develop a dynamic pricing strategy
- Improve sales and drive ROI
- Robust pricing strategies can benefit retail companies by reducing instances of revenue losses. Request a free demo to know how customized pricing analytics solutions can be utilized for the same.
Quantzig's pricing analytics solutions offered predictive insights on:
- Analyzing external and internal factors affecting pricing decisions
- Improving price elasticity
- Wondering how to develop effective pricing strategies? Request for more information now!
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
