Our primary focus is around the development and application of predictive and prescriptive models to assist clients with their key objectives, be it revenue management, customer retention, or up-sell cross sell of products and service,
How do I optimize my product pricing such that I can increase revenue while retaining customers?”—A very crucial question that organizations are struggling to answer when it comes to revenue management. However, traditional methods of pricing carried out by the finance professionals are limited in scope. This is because they access excel spreadsheets with the list of customers, and divide them into various segments. Based on the organization’s targeted increase in revenue, the professionals raise the price within each segment by a certain percentage. However, when these pricing strategies are applied; the customers stop buying the organization’s products due to an increase in price. The revenues estimated in spreadsheets do not translate into reality. Also, preadsheets fail to address the customer retention component. This is where TDT Analytics differentiates itself. The company develops a model based on predictive analytics that optimizes prices based on forecasted demand, price elasticity, and competitive rates to ensure customer retention as well as revenue increase.
Predictive Analytics for Optimal Pricing
