The client’s vehicle pricing was calculated with the domain expertise of one person using spreadsheets. It would take several minutes to generate a price for one vehicle. Management had little view into reasons for pricing discounts.
The ProfitOptics Price Optimization Module was configured, leveraging much of the current unique and valuable pricing logic of the pricing domain expert. The Price Playbook, while complex (merging the client and competitive data with 100s of pricing combinations), allows the client to quickly adjust parameters and easily compare scenarios. The ProfitOptics KPI Dashboard was configured to show a variety of metrics that the business was unable to calculate prior to the ProfitOptics engagement.
The Price Playbook allows the business to continually fine-tune and model price changes for 100s of vehicles within minutes. Validation is easy with the ProfitOptics Data Pedigree and allows for a high degree of confidence in the output. Once validated, the price is automatically updated to the company’s inventory and quoting systems. The KPI Dashboard provides the sales and management teams a consolidated view of all revenue and margin activities. Each widget has a Data Pedigree, where one click shows underlying data.