Price optimization is our flagship value proposition. We use advanced statistical methods to measure price elasticities, analyize competitors behavior, and understand key market scenarios. Then we build pricing systems that consistently optimize profit in the long term.
- Hotel Price Optimization (HPO): Time of reservation, time and length of the stay, type of room, meal packages, type of hotel and location, type of guest… these are all relevant factors that affect the price of a hotel room. At Inverence we use our powerful Bayesian modelling engines to account for all of them, to build accurate predictions of Booking Pace curves, which allow us to produce the optimal price for each individual reservation.
- Online Retail Price Optimization: Our solution for online sales. The system provides the optimal price for each available product on a daily basis, taking into account cross-elasticities and direct competitors reactions to price changes.
- Price Structure Harmonization: Our holistic pricing solution to transform a company’s performance from the inside out. We analyze an organization’s pricing structure as a whole, build models to understand key price factors, and harmonize the portfolio by removing unwanted price deviations and optimizing price levels to maximize profit in the long run. This solution focuses on the company’s internal price structure, rather than on what competitors are doing. Thus it is particularly powerful in sectors where prices are negotiated on a client basis and little information from competitors prices is available.
Contact us to discover the best Price Management solution for your company.