In this use case we will look at how you can design basic and advanced pricing strategies with ease using Pricefx. Strategy Designer is an accelerator in Pricefx that provides a user-friendly interface simplifying the process of designing pricing strategies. Underlying code is generated based on your visual design, eliminating the need to edit thus saves you time and effort. The building blocks can be saved for future use, meaning that you can quickly access your previous work and build upon it, without having to start from scratch every time. You can trust that the technology behind the tool is top-notch, and that you'll have a smooth experience every time you use it.
Use Case Situation Description
User Role:
Pricing Manager
Business Objective:
Pricing Strategy Designer allows you to visually design your basic/advanced pricing strategies (which are part of the Price Setting Package) and deploy them directly to your partitions. To build a strategy, you no longer need to edit a table, instead you work with a user friendly UI formed by color blocks, while the underlying code is generated by the system. The building blocks can be saved for reuse. From the technical point of view, Pricing Strategy Designer is a standalone web app integrated into Pricefx Unity, powered by Google Blockly.
Complications:
-
Markets and business strategies change over time and pricing strategies need to evolve with the changes.
-
The need for highly technical skills to write code are not easily accessible.
-
Strategies need to be tested with sample data prior to deploying a new strategy.
Capabilities needed:
-
Easy “no code” configuration that does not require technical expertise.
-
Ability to simulate effects of new strategy.
-
Visual configuration for ease of understanding
-
Ability to deploy the code directly into a chosen environment to be used across PFX.
Benefit:
-
A business analyst or solution developer can quickly work through the design stage of a pricing strategy and deploy the code for testing.
-
A pricing manager can conduct a live preview of the pricing strategies applied to a product, without the need to involve a solution developer.
-
A pricing manager can use sample data to calculate and test the strategies as they are being developed and be provided instant visual feedback of the impact of the configuration change.
-
A pricing manager can deploy the code directly into a chosen environment to be used across the Pricefx system.
KPIs:
-
Revenue growth resulting from quick execution of new strategy.
-
Savings in labor expenditures as IT resources are not required.