About This Constellation ShortList™
Price Optimization Solutions allow organizations to predict how buyers will react to different price points and pricing models. These optimization models often use big data, predictive analytics, machine learning, and artificial intelligence tools to craft initial pricing, promotional pricing, discount pricing, and substitute pricing.
Optimization begins with customer segmentation. Using different attributes such as channel, time of day, location, etc., math is applied to determine what constraints can be included in the optimization process. Optimization strategies can be determined by understanding the pricing problem as yield management, mark down, list pricing, customized pricing, etc.
This Constellation ShortList mixes both B2B and B2C solutions. Constellation believes while these markets are different today, the convergence will bring lessons learned to both markets as the commerce moves to people to people. Many of the vendors started out in one mode and have customers in the other.
Constellation considers the following criteria for these solutions:
- Support multiple pricing models
- Enable complex promotion rules
- Manage price lists
- Prescribe pricing segmentation
- Facilitate markdown scenarios
- Deliver dynamic pricing
- Provide advanced analytics
- Create pricing optimization models
- Collect competitive insights
- Apply machine learning and artificial intelligence to identify, learn and predict new models
The Constellation ShortList™
Constellation evaluates over 37 solutions categorized in this market. The Constellation ShortList is determined by client inquiries, partner conversations, customer references, vendor selection projects, market share, and internal research.
- Model N
- IBM Price Optimization
- Infor Pricing Science
- Oracle Advanced Pricing
- Revenue Analytics
Frequency of Evaluation
Each Constellation ShortList evaluation will be updated every 180 days as needed.
Constellation clients may work with the analyst and research team to conduct a more thorough discussion of this ShortList. Constellation can also provide guidance in vendor selection and contract negotiation.