As part of a new business relationship, Predictix will now incorporate data from retail price intelligence solutions provider 360pi.
The new partnership was established to help increase the value of the Predictix solutions by delivering more accurate demand forecasts and optimized recommendations. Retailers can use the solution to gain further insight into how their prices compare to competitors, and in turn, revise their pricing strategies based on market conditions and consumer demands.
“Traditional retail pricing solutions try to calculate how demand varies at different price points based on history,” said Iain Watson, EVP of Product Management at Predictix. “But that approach, regardless of sophistication, has been made obsolete by the rise of online price checking by consumers, and the rapid-fire price level adjustments being made by retailers.”
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