About Price IQ
  • 24 Jun 2024
  • 1 Minute to read
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About Price IQ

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Article summary

Zilliant Price IQ™ offers proprietary prediction and optimization engines that generate segment and customer-specific price recommendations from your business data.

The solution answers questions such as "what is the optimal price for this product for this customer?" or "how will this price impact volume?" It provides these answers with greater accuracy than manual analysis or rules-based systems.

Price IQ empowers your pricing teams to:

  • Develop what-if scenarios to align business goals with pricing strategies.
  • Enforce rational price relationships, such as minimum margin requirements and good/better/best product relationships.
  • Simultaneously visualize predicted margin, revenue, and volume impacts for what-if scenarios before publishing optimized prices to the market.
  • Analyze each price, view associated transactions with inline analytics, make adjustments, and then see precisely how price changes impact revenue and profit.
  • Immediately publish optimized prices into CRM, CPQ, ERP, eCommerce, or other commercial systems.

How Price IQ works

Price IQ optimizes prices according to your business strategies. To compare the impact of different strategies, Price IQ supports the creation and comparison of multiple optimization scenarios.

The following illustration shows the general workflow for working with scenarios.

Price IQ Scenario Workflow

You can integrate recommendations generated by Price IQ into your selling process and systems in a number of ways. These methods include:

  • Uploading an output file into your existing system.
  • Using Zilliant web services to query or update specific data.
  • Integrating Price IQ with Sales Planner to expose price insights on sales rep and sales manager action dashboards.

Understand your solution

Because customer data and pricing goals vary, Price IQ is uniquely tailored for your business. Your Zilliant representative will provide you with supplemental reference information that explains the data, strategy worksheets, and analytics workbooks for your Price IQ environment.

How to use Price IQ

To use Price IQ:

  1. Configure Price IQ and create pricing strategies.
  2. Create a pricing scenario.
  3. Apply strategies to a scenario.
  4. Optimize prices according to one or more scenarios.
  5. Review and publish optimized prices.

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