Projects and tasks in automating pricing processes and the transition to data-driven pricing are within the TOP5 of digital transformation projects in retailers' portfolios.

There are two ways to solve this problem:

- Selection and introduction of ready-made data-driven pricing systems, e. g., such as SmartPricing, and integration with the current company's IT system;

- Development of in-house dynamic pricing solution.

The second path is chosen by companies with their unique experience in solving pricing problems, their own proven strategy, and pricing rules. An additional reason for in-house development may be the integration complexity and the chain scale, which significantly reduce the effect of using ready-made systems.

However, this way has many hidden dangers. Data-driven pricing automation projects require not only programming competencies, but also deep industry knowledge and practical experience. Direct application of standard machine learning approaches and working using raw statistical data may keep the project at a long stage of “data-science” research.

If your company chooses the second way, our team, including the development team, with many years of experience in developing methodology and automating of individual pricing tasks, as well as developing an integrated Smartpricing system, is ready to significantly reduce the risks and time of your own data-driven dynamic pricing system by: