Audience
Manufacturers and retailers interested in an AI and machine learning platform to handle pricing decisions – improving profits and sales
About PriceMind
Retailers and e-commerce vendors share many, similar challenges such as unsold inventory and determining what optimal pricing is based on numerous factors such as inventory value, competitive landscape, the calendar and consumer sentiment. To solve many of these challenges, NextOrbit has developed technology which uses AI and ML to help sellers determine what to price their products. The solution consists of the following components: The NextOrbit PriceMind platform applies AI and Machine Learning to pricing decisions – improving profits and sales. The NextOrbit DemFor performs demand forecasting resulting in better inventory turns (more sales with the same or lesser inventory). The NextOrbit PriceEye competitor price discovery platform discovers competitors, and alerts you of their prices daily (or as often as your want). Intelligent Demand Forecasting Machine learning and human judgement - We help combine best of both worlds. We incorporate the impact of local events
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DemFor
Pricing For Profit, Competitor Price Discovery, Demand Forecasting. Enabled By AI & Machine Learning. Delivered a sales uplift of 14.4% for an American brand of casual apparel due to better pricing. Pricing For Profit, Competitor Price Discovery, Demand Forecasting. Intelligent Demand Forecasting. Machine learning and human judgement - We help combine best of both worlds. We incorporate the impact of local events, holidays, back-to-school, school closing, local carnival and games, social signals and macro-economic variables. Demand Forecasting. Store Ordering. Purchase Order Recommendations. Shelf Space Allocation & Optimization. Continious Monitoring And Improvement. Intelligent Pricing. Better price realization to improve Sales & Margin. Determine price elasticity by product, location and day; hence determine the extent of mark-up or markdown. Differential Pricing Strategies. Avoid a race to the bottom. A/B testing to demonstrate.
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Integrations
No integrations listed.
Company Information
NextOrbit
Founded: 2014
India
www.nextorbit.com/en/
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Product Details
Platforms Supported
Cloud
Training
Live Online
Support
Phone Support
Online
PriceMind Product Features
Pricing Optimization
Forecasting
Supported
Market Analysis
Supported
Price List Management
Supported
Pricing Analytics
Supported
Profitability Analysis
Supported
Channel Analysis
Not Supported
Competing Product Analysis
Not Supported
Multi-Store Management
Not Supported
Price Optimization Automation
Not Supported
Scenario Planning
Not Supported
