Price Intelligence for the Rapidly Changing Market The amount of data in retail is growing every day. It includes internal data about sales, promotions, and stocks, as well as external, or competitive, data about prices and other market changes. To make this data eligible for market analysis, a retailer needs to collect it properly from…
How does competitor price monitoring software work? As implied by the term “price scraping,” price tracking software uses bots to “scrape” information from competitor websites such as product model numbers, images, and textual descriptions, and track thousands of prices. The software compiles this information for retailers in one place so they can later use it…
What is price management software? Price management software is a tool that enables retailers to both collect and analyze all of the pricing and non-pricing data they need to make important strategic decisions and optimize their prices. Advanced software based on algorithms can process all the information retailers need and run simulations to calculate the…
What is pricing analysis software? Pricing analysis software is a tool used by retailers to collect, process, and analyze data in order to set optimal prices and boost competitiveness. Price analysis software can be used for various operational and strategic tasks from putting particular items on promo to making long-term demand predictions. The main factor forcing retailers…
