Optimize prices
- 12 Feb 2025
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Optimize prices
- Updated on 12 Feb 2025
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Price IQ uses a mathematical solver to simultaneously enforce pricing strategies and find prices that meet a globally optimal objective. This is a crucial step for working with Price IQ, and requires at least one configured scenario.
After you apply strategies in the scenario, use one of the following procedures to optimize prices.
From the scenario workbook
From the Price IQ Manager Dashboard, expand the Scenarios folder.
Select a scenario name to go to its workbook.
On any worksheet, select the Optimize Prices worksheet action.
From the Negotiated Prices workbook
From the Price IQ Manager Dashboard, open the Negotiated Prices workbook.
On the Scenario Management worksheet, select the Selection checkbox near your scenario.
Select the Optimize worksheet action.
Tip
The length of time required by the optimization process depends on the number of prices included in the scenario. Price IQ may require up to an hour to complete the process.
You can close Price IQ or continue using the app while it optimizes prices. When the optimization process has finished, a green notification box appears to indicate completion.
KPI optimization states
Price IQ supports these optimization states:
Needs Opt—The optimization process has not run on a scenario.
Optimized—The optimization process has run on a scenario.
Partial Opt—The optimization process has run, but constraints defined in some external worksheets—such as Profit Rev Strategy, Min Margin, and Cust Spend Spread—haven’t been applied.
You can check the status of the optimization process in the dashboard execution log or worksheet activity log.
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