To retrieve the elasticities calculated from transaction data, the Shelf Price Grid model deployed by the Accelerator depends on another Multifactor Elasticity model. Below is the simplest way to configure such a model on the partition; the complete documentation for multifactor elasticity models is in Accelerate Multifactor Elasticity Optimization.
In this section:
Deploy
⚠ Note that if the Multifactor Elasticity Model Class & Logics have already been deployed on the partition, deploying them again might override specific changes done by a pricing scientist. Also if the Multifactor Elasticity Model Class is already present in Administration > Configuration > Optimization > Model Classes, you can directly use it without doing the deployment again.
As the Optimization - Shelf Price Accelerator has a dependency on the Optimization - Multifactor Elasticity Accelerator, the quickest way to deploy both is to directly deploy the first one. It will take care of deploying the other. See Installation (Optimization - Shelf Price) for more details.
It is still possible to deploy only Optimization - Multifactor Elasticity; see the admin part of the Multifactor Elasticity documentation.
Prepare Transaction Source
The Multifactor Elasticity model runs using a transaction source. The transaction source must meet the following prerequisites.
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The transaction source must contain the following fields (create them if needed):
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Date – Date of the transactions, might be used for aggregation by period.
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Product – ID of each product.
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Shelf Price – Price applied to the customer (extended to the quantity).
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Quantity – Number of products in each transaction.
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Store – Store where the transaction was done.
Note: If only one store or differentiation by store, using always the same value will work. -
Channel – Channel where the transaction was done. Note: if only one store or differentiation by store, using always the same value will work.
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All the fields that define the factors that influence the price elasticity of the products.
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It is recommended that this transaction source is the one used in the Shelf Price Grid model to define the historical sales.
Create and Run Model
The documentation to create and run a Multifactor Elasticity model is in https://pricefx.atlassian.net/wiki/spaces/ACC/pages/4832493608.