Understand what parts of the Pricing Strategy Tree are driving your price changes and how
Once you have implemented your pricing strategy in the Pricing Strategy Tree - and ran a price calculation - you can visualise what part of your Pricing Strategy Tree drove you price changes, as well as how. This can be helpful to better understand the impact of the pricing strategies you implemented in the Pricing Strategy Tree, and whether they are as expected or whether you want to make revisions to your pricing strategy. Another use is to validate the Pricing Strategy Tree for correctness. If a certain branch of the tree prices a very large part of your assortment, or leads to large price changes, that may signal that you made an error when setting up that branch.
In order to view these Strategy Branch Statistics, simply click on the “Strategy branch statistics” link in the top left box of the Price Recommendations dashboard.
Omnia will now take you to a new screen where it overlays the Strategy Branch Statistics on top of the Pricing Strategy Tree. The screenshot below shows you part of the Pricing Strategy Tree, with the Strategy Branch Statistics displayed for two branches.
You can see that the top branch (named “Corsair+Logitech Pos 1-3%”) has changed the price of 205 products. The average price difference was -6.49 in the currency set for the portal, -11.09% lower prices, and there were 20 price increases and 185 price decreases. So overall this branch has a price lowering effect. The second branch (“TP-Link match cheapest comp”) only changed the prices for 8 products, and on average had a price increasing effect: on average 3.01 increase in the currency set, +5.07%, and 6 products went up in price, while 2 products went down in price.
Another functionality in Omnia to get more insight into the impact of branches in the Pricing Strategy Tree is to filter on the Strategy Branch Name in the Price Recommendations dashboard. This gives you the opportunity to also review the actual products that were repriced by the branch. So in the two examples above, the 205 products and 8 products, respectively.