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Topic

Key Concepts

Video Location

Introduction to Solution Architecture at Pricefx

  • Presenting on solution architecture training and price effects.

  • Discussion on the flexibility and features of Pricefx.

  • Tools provided for solution design within Pricefx.

00:00

Importance of business analysis in project scoping and customer requirements

  • Challenges in business analysis, especially in the pricing space.

  • The significance of having conversations with customers for uncovering complexity.

  • The role of business analysis in ensuring comprehensive requirements from customers.

  • Introduction of the business analyst role at Pricefx and its importance

09:35

Discusses anchor pricing, recommended retail pricing, and kit pricing in product pricing strategies

  • Anchor pricing involves setting the price of a product based on the price of another product.

  • Recommended retail pricing is determined by competition and is simple to calculate.

  • Kit pricing involves calculating the price of a product based on the prices of its components.

27:28

Importance of product segmentation

  • Product segmentation is a core aspect that drives many things in PSP.

  • Different tables, such as strategy selection, are influenced by product segmentation.

  • Demonstrates how to locate specific data in a table.

  • PSP tries to find the most specific combination of product segmentation.

36:37

Discusses two levels of flexibility in setting up product attributes and pricing levels in the backend

  • First level of flexibility allows for setting up various settings based on the combination of product attributes.

  • Second level of flexibility, known as pricing levels, allows for creating different price lists for regions or countries, with the option to have dependencies between them.

45:48

Best practices in pricing strategy and consultation

  • Discussion on best practices in pricing.

  • Importance of effective execution in software pricing.

  • Consultative approach in providing guidance for pricing strategies.

  • User story creation process and customer struggles

19:12

Discussion on software development, production costs, and customer feedback

  • Overview of software development and production costs.

  • Emphasis on customer feedback and communication.

  • Seeking feedback for improvement and future content.

  • Upcoming topics on business use cases and solutioning.

  • Introduction to hypothetical company 'Red Shoes Company'

28:48

Challenges in fitting customer requirements into the Accelerator

  • Complexity and time required to fit customer requirements into the accelerator.

  • Standard analytics tools like sales dashboards are used without modification.

  • Difficulty in incorporating customer requirements for processes like rebates or price setting.

  • Deployment of dashboards with insights is excellent but adding more charts or boards is challenging.

  • Modifying the system for customer needs poses a significant challenge

38:24

Guiding customers through data readiness process

  • Understanding data effects on pricing.

  • Reviewing business processes with operational users.

  • Supporting customers in internal exercises.

  • Providing guidelines and templates for data readiness.

  • Refining process based on customer feedback

48:01

Discussion on the benefits of a flexible data model

  • he flexible data model benefits in articulating to the customer,

  • Customers can use their own concepts and terminology.

  • Slimming down the field set to support the process.

  • Matching the data model to what the customer already does.

  • Flexibility of the data model allows for customization

57:36

Overview of data enrichment and transformation in platform management

  • Introduction to visibility process execution.

  • Coverage of setup and utilization of platform manager tool.

  • Importance of data enrichment and transformation in integration.

  • Recommendation to minimize enrichment and transformation for simplicity.

  • Commonality of data enrichment practices among customers

1:07:12

Learning Highlights:

  • Defining Accelerators as pre-configured components:

    • Price calculations based on pricing strategies:

      • PSP calculates multiple prices for each product using different pricing strategies.

      • The system prioritizes the pricing strategies based on configuration.

      • The prices can be different depending on the selected strategy.

      • Users can manually override the automatic decision and change the price using a price selector.

    • Warnings and error handling:

      • Errors are displayed in a clear and helpful way throughout the accelerator.

      • Examples of warnings and errors are shown, such as a warning about a smaller margin than the specified minimum.

      • It is important to read the issues from top to bottom, as seemingly minor problems can lead to bigger issues later on.

      • During configuration, it is important to ensure that the system picks up the settings as expected.

    • Pricing strategies:

      • Anchor pricing is when the price of a product depends on the price of another product.

      • Recommended retail pricing is simply getting the value from a table based on competition.

      • Kit pricing, also known as bill of material (BOM), calculates the price of a product based on the prices of its components.

    • Use of product segmentation:

      • Product segmentation is a core component in PSP tables.

      • The speaker mentions the strategy selection and its presence in different tables.

      • The speaker clarifies the selection process based on business units and product groups.

      • The system tries to find the most specific combination in the table, but also considers alternative combinations if the specific one doesn't exist.

    • Pricing flexibility levels:

      • The first level allows for setting up various settings based on the combination of product attributes.

      • The second level, called pricing levels, allows for creating different price lists for regions, countries, or stores, with the ability to set up dependencies between them.

    • Use of cost plus table:

      • There are several versions of the Cost Plus table, and each version corresponds to a specific level and has its own table.

      • If a specific level is not available, the system will use the universal fallback table called Cost Plus.

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