LONDON--(BUSINESS WIRE)--Quantzig, has announced the completion of its latest price optimization engagement for a Fortune 500 silicon water manufacturing company. Request a FREE demo for comprehensive solution insights.
Price optimization helps in setting adequate prices for your products and offerings in line with market needs. Companies in both B2B and B2C business settings, always dedicate a massive amount of time and resources towards price optimization to ensure that their products get sold quickly at the right price while the company makes a decent profit. The silicon wafer manufacturing industry is dealing with challenges owing to several factors that are directly or indirectly connected to the business processes and product pricing.
If an item is priced too high, it may not sell at all, while if the price is reduced too much, the business will not make a profit. Request a free proposal to know how you can devise an effective price optimization strategy for your products.
Quantzig’s Methodology
The client is a Fortune 500 silicon wafer manufacturing company based out of Belgium. With the rapid increase of volatility in the market and the rise in competition, the client witnessed a sharp decline in the total sales volume. This client collaborated with Quantzig to leverage its price optimization and price analytics solutions to gain better outcomes. To help this client tackle their challenges, Quantzig’s experts adopted a comprehensive three-phased approach that applied machine learning and advanced algorithms to develop a sophisticated and data-driven NLP based price optimization model. The three phases included-
- Integration and analysis of historical data
- Creation of differentiated value-based price optimization models
Get in touch with our experts to know how pricing analytics and price optimization models can help you unravel new opportunities to drive growth in the silicon water manufacturing sector.
Business Impact
By partnering with Quantzig, the client embarked on a journey of transformation that helped them to devise a price optimization strategy. The price optimizations strategy derived by Quantzig also helped the client to address the dynamic pricing needs of the market. The key business outcomes included-
- Improved the efficiency of operations
- Achieved 48% improvement in win-rate
- Increased revenue by 65% increase
Finding the perfect balance between profit and value is essentially what price optimization is all about. Request more info to know more about our pricing analytics solution portfolio.
About Quantzig
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 55 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal
