You want to utilize automated pricing for your slow-moving products and achieve optimum earnings from your sales at any time. To minimize the effort for your category management and create the freedom to supervise price-sensitive product segments. The particular challenge in optimizing the price of long tail products is that there is minimal demand for each individual item. That is why you need an AI-supported method that always calculates the optimal price, even with a comparatively thin database.
The prudsys RDE uses cluster algorithms to analyze correlations between individual products. The AI identifies significant manifestations of product attributes and forms product groups. This creates a sufficiently large data pool for intelligent pricing. The prudsys RDE then optimizes the individual prices in the long tail based on historical transaction data, current transaction data, product information and other relevant pricing factors.
Automated pricing using intelligent pricing algorithms considerably relieves your category management. This frees up resources for other strategically important tasks. You can also ensure that you are always estimating a fair market price and achieving the optimum earnings from the sale of your long tail products.