Pricefx Copilot, integrated with Customer and Sales Insights dashboards, provides insights, enables business conversations, uncovers trends, drills down for details, filters specific items, offers recommendations on churn risk, margin outliers, and low margin deals, suggests price setting actions, converts insights into actions, and guides users to complete business flows
Advantages of Integrating Pricefx Copilot with Sales and Customer Insights
Pricefx Copilot in connection with Customer and Sales Insights dashboards can provide these benefits:
Provide insights within Customer and Sales Insights dashboards
Enablement of business conversations related to the data on the dashboards:
Uncovering trends in respective areas
Drilling down for more granular detail
Filtering specific items based on described criteria
Provide recommendations on associated use cases:
Churn Risk
Margin Outliers
Low Margin Deals
Suggest recommended actions in the price setting area
Convert insights into actions (ie. revise Price List, update LPG, etc.)
Provide guidance to users to finish the business flow
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LEARN MORE: To learn more about analyzing a dashboard to gain insights, click here. |
Dashboard Analysis Step by Step
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Step 1
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: Analyze Customer Insights/Sales Insights Dashboards
A pricing analyst opens a Customer Insights / Sales Insights Dashboard to gain insights into any underperformance in the product portfolio and identify potential for revenue improvements. The insights can be understood through these key aspects:
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Market Positioning: By understanding sales performance relative to competitors, the analyst can adjust strategies to maintain or improve market share.
Agility: Quick access to insights enables faster response to market changes, ensuring the company remains competitive.
Step 2
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: Root Cause Investigation
The pricing analyst starts investigating the root cause of why the identified products are underperforming to create recommendations for the pricing teams to improve. The value of this process is:
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Cross-Functional Engagement: The investigation process often involves collaboration with marketing, sales, and product teams, fostering a unified approach to addressing performance issues.
Shared Understanding: It creates a shared understanding of market dynamics and customer needs across departments, enhancing overall business strategy.
Step 3
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: Pricefx Copilot Recommendation
A recommendation is created though the use of AI Assistant of Pricefx Copilot with suggested quick actionsto be handled by the pricing or sales teams in the price setting area. Here is how the process unfolds:
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Price Adjustments
Dynamic Pricing Changes: Recommendations may include adjusting prices for specific products based on their sales performance, competitive landscape, or customer feedback.
Promotional Strategies: Launching targeted promotions for products that are not meeting sales expectations can be suggested.
Sales Strategies
Targeted Outreach: Sales teams may be advised to focus their efforts on high-potential customer segments identified in the dashboard analysis.
Upselling and Cross-Selling: Suggestions might include strategies for upselling or cross-selling based on customer purchasing patterns.
Market Positioning
Competitor Price Monitoring: Quick actions could involve monitoring competitor pricing and adjusting strategies accordingly.
Product Repositioning: Recommendations may suggest repositioning certain products in the market to better align with customer demand.
Step 4
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: Live Price Grid Updates
The suggested action is taken by the pricing or sales teams to adjust the list price in the Live Price Grid to utilize the potential identified in the analytical Dashboard, Here is how the process works:
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