Boomerang Commerce has announced the release of its product Dynamic Price Optimizer, a big data SaaS for price optimization targeted at online retailers. This product enables e-commerce websites to optimize the price of its products and compare it with those offered by competitors. There are other companies which offer price intelligence, but price optimization is different from price intelligence. While price intelligence considers only market-level price intricacies, price optimization lets you address business goals other than profit, and looks into many more factors, like logistics, COGS, margin etc. As far as we know (do let us know if there are), there's no one else who offers price optimization as a service. What it does: This software is integrated into a subscribers e-commerce platform and it measures over 100 variables internally and externally to decide an optimal price point for a product. The system runs numerous pricing strategies in parallel (A/B tests), and makes pricing decisions across hundreds of thousands of SKUs to maximize a business goal. If you enter a product name into the Dynamic Price Optimizer dashboard, it first shows you a comparative chart of how competent you are in terms of pricing. The software plays around with 100 variables before deciding the right pricing for it. It shares how a variable affects the price, before the pricing gets updated. Business model: What Boomerang sells essentially is a pricing call for a product. They dynamically change pricing and testing on every transaction to see if it works for a retailer.…
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