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Building In-house Price And Promotion Modeling Capabilities

The Opportunity

  • This retailer was dependent on large enterprise software to manage pricing and promotion.  The software had virtually no analytical tools to understand price elasticity and promotional lifts.
  • They desired to build internal capabilities to produce and use price and promotional models.

Our Approach

  • Under our collaborative consulting engagement model, we paired up with the client’s data scientists to teach them how to build econometric sales models.  The deliverable included data processing and analytics pipelines in software.

The Impact

Benefits delivered:

  • Key value items were identified by store group to aid in promotion.
  • Store clusters were identified for advertising and promotion.
  • The elasticity models impacted the overall shopper basket.
  • The company built it’s internal know-how.
  • Processing and workload improvements in accessing and preparing data for analytics and reporting were realized.
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