Ugam has announced the enhancement of its pricing intelligence solution with a powerful pricing engine that delivers real-time, on-demand pricing data for millions of products at the click of a button. The pricing engine monitors online retail prices and consumer signals, and combines that information with proprietary and third-party data to enable retailers to dynamically price in a manner that’s both competitive and consumer-oriented. The pricing engine makes Ugam’s pricing intelligence solution the only offering on the market that collects up-to-the minute price data from the majority of U.S. Internet retailers.
“It’s critical for retailers to have real-time data in order to make timely pricing decisions that make an impact on their business,” said Ugam CTO, Sridhar Sharma. “If price data isn’t current, retailers may be perceived as not being competitive, which can be especially damaging on high-volume traffic days like Black Friday. Ugam is the only company delivering real-time pricing intelligence. Our competitors are pulling dated information from static databases.”
In a world increasingly driven by timely data, in which consumers can make purchases from whichever retailer they like at the click of a button, online pricing optimization has become critical. As the volume and velocity of data continues to increase, it becomes more and more important for retailers to sift through massive amounts of data for valuable insights. Retail category managers need on-demand access to real-time data supported by simple, intuitive tools that compare and adjust prices, and make intelligent recommendations. Price monitoring alone is no longer enough to remain competitive, and retailers are increasingly turning to pricing intelligence technology that provides them with smart diagnostic insights and recommendations leading to impactful actions.
