Being named by ALM Intelligence as a Best-in-Class provider in Pricing Infrastructure and Analytics was more than just an accolade. It served as a confirmation of Revenue Analytics’ long-held value proposition: By working collaboratively with our clients, we can build sustainable and bespoke solutions that will drive their organic revenue growth.
Of all those words above, sustainable and bespoke are the ones that jumps out most. After all, why would a client invest in a solution that isn’t specific to their needs and solves their problems?
Yet making a solution sustainable requires several key components that are critical to success. First, sustainability entails close collaboration with the client. Second, it necessitates a capacity for tailoring to the client’s needs that packaged software just can’t support. Finally, it involves a holistic approach in which you are focused on a strategy, people, and process, as well as the system. Success in analytics always requires solving for the human equation!
A perfect example of this is our work collaborating with a national retailer who was trying to combat the 400-pound gorilla in the room – Amazon. In collaborating with the client, it was revealed that the client needed a system that would tell users when, where and by how much to respond to Amazon’s price moves. The solution then had to be tailored specifically to the retailer’s requirements and engineered so it would produce user-friendly pricing recommendations that the company could understand and implement.
The solution has been in use daily for the past two years – and once implemented the retailer reaped a 6.8 percent revenue uplift and saw a 30 percent increase in select categories.
In addition, ALM Intelligence ranking recognizes where Revenue Analytics is headed. “We were named ‘the consummate pricing science provider,’ and were highlighted as being ‘on the forefront of the shift into the managed service space.’ These accolades are a great testament to the investments we have made in building out our cloud analytics platform, where our clients can leverage core analytics components that can be rapidly deployed to solve their revenue problems. In essence, we provide components that yield the benefits as a software system without the constraints.
This approach allows greater flexibility and impact because we can choose the best components for a particular client problem, rather than being inhibited by the packaged nature of a preexisting software application. Our clients also gain from our ability to offer not just one model to solve a problem, but myriad different models.
So, rather than debating which model is the best to solve a particular problem, we can run an ensemble of models and use one that provides the best result. For example, our pick best forecasting ensemble runs hundreds of models and picks the best one for each product or segment.
It’s essential to be attentive to rightsizing solutions for individual client needs. To be successful, analytics capabilities must fit the way business decision makers approach the problem. We use a unique combination of the right people, technology and process to create capabilities that are tailored to each client. That’s how we became a Best-in-Class Provider in Pricing Infrastructure and Analytics.