Optimization

The Optimization module provides a framework that helps you analyze and segment your business, optimize your product portfolio and improve pricing.

Optimization, which supports many data science techniques, performs data profiling and generates segment-specific optimized pricing and price guidance and delivers it to price lists, CPQ, Digital Commerce and ERP systems.

Getting Started

Pricefx delivers several optimization use cases which help you get started much quicker. These sample configurations are easily deployable using Pricefx Accelerators.

Optimization01.png
PlatformManager Marketplace from where you can deploy Accelerators

 

Please refer to Accelerator Documentation to learn more about the following use cases:

Structure

The Optimization module is highly configurable to meet various business needs. 

The main building blocks are:

  • Model Classes – Allow you to build custom specific features, made of sequential steps that the user goes through. In each step, the user can run a calculation and then, in multiple tabs, work with interactive dashboards to explore the calculation results. A Model Class defines a user workflow based on logics and can use an engine, such as Optimization Engine or Python Engine.

    • Engines are a way for the Pricefx platform to run specialized calculations in a virtual environment and give back the results to the platform. Engines are used to run data science and optimization jobs.

  • Models – Allow you to create many optimization scenarios based on a specific Model Class.

The flow is as follows: Model Classes bind together the logics and based on this class individual models are created. These models then process (with defined parameters) the specific datasets.


Note on terminology: 

  • Pricing Guidance – Used up to version 11.0; now it is replaced by Model Classes. Pricing Guidance was used to create a segmentation model or a product recommendation model.

  • Model Types – Used in the initial version of the Optimization module. They were replaced by Model Classes.

  • Optimization Engine – It was the previous implementation of Model Classes and Models and was listed in the Optimization menu. Now it is used as a background engine, executed by models.

 

For details on configuring Optimization see Developer Knowledge Base.

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Pricefx version 13.1