The ever competitive retail industry has made retail price intelligence indispensable to the industry. In order to beat the heat of the industry, one must surely have a cutting-edge ‘retail pricing intelligence software’ in place.
Here’s a list of must have features of a comprehensive retail pricing intelligence software-
Product matching is a fundamental feature of a great retail pricing intelligence software. It enables you to track and compare your products against competition with utmost ease. As a category manager, you job is to make well-informed decisions and the accuracy of comparison helps you make them. Product matching features facilitates straight-forward comparisons without any complexities to make your life easier.
2.Data Update Frequency
In contemporary ecommerce environment product prices and offers get obsolete sooner than you may realize and hence the importance of data update cannot be undermined. A state-of-the-art retail pricing intelligence software has high data update frequency to keep you ahead of the game.
3.Huge Product Coverage
Information is correct when it is complete as well. If the products you want to compare are not covered by the tool, the information is not of much use anyway. A PI tool must be able to do the job for you by providing extensive product coverage.
The availability of data on various levels is essential for a successful strategy. A good PI presents data in variegated categories such as: main category, sub-category, brand & individual products. This comes really handy to the merchandising team as well as price analysis experts to address major problems. A good retail pricing intelligence software highlight pricing opportunities for you to give you that much needed edge.
Data presentation is one crucial aspect. Managers are always busy and have quite a few important decisions to make. A retail pricing intelligence tool is essentially a data product. A robust pricing intelligence tool presents data in a format that is easy to understand. The data must have actionable insights and that’s exactly what a competitive pricing intelligence software does.
WebDataGuru’s Retail Pricing Intelligence Solutions
WebDataGuru’s pricing intelligence solutions are designed at making pricing analysts job a breeze. We offer bespoke pricing intelligence solutions to acknowledge specific client needs and to address core problem areas.
Should you have any queries or need information about how our solutions can help your business beat the heat of the competition, feel free to drop us a line and we would be more than happy to answer you.