CORDIS Project
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The project focuses on optimizing product pricing for fast-moving consumer goods and consumer packaged goods companies using advanced artificial intelligence and big data techniques. By improving demand prediction accuracy, it aims to simplify pricing strategies and enhance profitability for businesses.
Product pricing is the most critical element for FMCGs and CPGs companies, but it is very complex to optimise them due to the high number of factors involved and their interrelations.When defining prices for their products (SKUs) CPGs need to consider price elasticity, cross-elasticity, cannibalisation, competitors' pricing strategy, etc.
Additional complexity comes from customers’ micro-segmentation, type of retailer and channels.
In addition, prices move on a daily or weekly basis.
As conseque…
WISE ATHENA SL
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