Pricing Intelligence

Price Intelligence (sometimes referred to as Competitive Price Intelligence or Competitive Price Monitoring) refers to a concept or practice that allows retailers to be aware of market-level pricing intricacies and have insight and awareness of their impact into the business. It typically includes a detailed analysis of pricing data utilizing modern data mining techniques. It is differentiated from other pricing models by the extent and accuracy of the competitive pricing analysis. The technique can be applied by companies seeking to optimize their own pricing strategy relative to their competition, or by buyers seeking to optimize their purchasing strategies.