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Price Intelligence (or ''Competitive Price Monitoring'') is awareness of market-level pricing intricacies and the impact on business, typically using modern data mining techniques. It is differentiated from other pricing models by the extent and accuracy of the competitive pricing analysis.〔 〕 The technique can be applied by companies seeking to optimize their own pricing strategy relative to their competition,〔 or by buyers seeking to optimize their purchasing strategies.〔 〕 It involves the following key elements: * Discovery - finding product pages on various competitor websites * Matching - determining through algorithms, whether or not the product matches exactly, or if it is a comparable product * Extraction - the process of gathering the price, shipping and availability data from the eCommerce website * Cloud computing - often recruited to help manage big data * Measurable data quality - The database is regularly checked for accuracy * Reporting and Analytics - ability to gain actionable insights from the big data that has been gathered Price Intelligence has become a table stakes requirement for retailers, for several key reasons:〔2013 RSR Pricing Benchmark - Tough Love: An In-Depth Look at Retail Pricing Practices, Retail Systems Research: http://www.rsrresearch.com/2013/04/08/tough-love-an-in-depth-look-at-retail-pricing-practices/〕 # Increased consumer price sensitivity # Increased aggressiveness from competitors. Retail giants like Best Buy and Walmart change prices upwards of 50,000 times per month. Amazon is the most aggressive with pricing, changing prices every 10 minutes or even more often than that at times.〔Best Buy, Walmart, and Amazon repricing frequency http://risnews.edgl.com/retail-research/Pricing-Intelligence-Goes-to-War90346〕 # Increased price transparency and showrooming. Increasing smartphone adoption has played a large role in the prevalence of showrooming because there are several options for price checking apps; Amazon has Price Check, eBay has Red Laser, and Price Tracker is another favorite.〔http://www.bloomberg.com/news/2013-11-18/price-check-armed-with-apps-shoppers-scour-stores-for-bargains.html〕 These companies are making it easier for consumers to ensure that they are getting the lowest price. This phenomenon is on the rise because 20% of smartphone users check prices in stores and buy online for cheaper, but 96% plan to showroom in the future.〔20% of smartphone users check prices in stores and buy online for cheaper, but 96% plan to showroom in the future http://www.aprimo.com/tdresources/102301%20aprimo%20showrooming%20uncovers%20a%20new%20world%20of%20retail%20opportunities%20wp.pdf〕 # Amazon and their ever-growing market share. Amazon is a unique retailer because it operates at a loss, however it has gained a large share of the market and cultivates customer loyalty.〔http://venturebeat.com/2013/10/24/do-profits-matter-the-curious-case-of-amazon-com/〕 In 2013, Amazon announced that its price for free shipping on certain products was jumping from $25 to $35.〔Amazon shipping increase http://money.cnn.com/2013/10/22/pf/amazon-free-shipping-change〕 Since Amazon is the loss leader, it is able to offer products at a low price, which entices competitors to drop their prices as well. Amazon has a rocky history with repricing items. It collects huge amounts of data from its customers and often uses it to reprice its products. In 2000, it was widely criticized for testing prices by charging customers different prices for the same items.〔Amazon criticized for pricing in 2000 http://www.bizjournals.com/seattle/stories/2000/09/25/daily21.html〕 There are several technology companies that specialize in using modern data-mining techniques to discover, match, extract and report on competitive pricing data. One of the largest players in the market, (Black Locus ), was acquired on December 17, 2012, for an undisclosed amount〔Home Depot Acquires Data-Driven Retail Pricing Startup BlackLocus - http://techcrunch.com/2012/12/17/home-depot-acquires-data-driven-pricing-analytics-startup-blacklocus/〕 by home improvement retail giant, Home Depot. According to RSR Research's 2013 annual pricing benchmark study that surveys retailers, 13% of retailers have fully deployed price intelligence solutions.〔2013 RSR Pricing Benchmark - Tough Love: An in-depth look at retail pricing practices〕 Another 54% of retailers surveyed were either piloting, evaluating or exploring putting one in place.〔Tough Love: An In-depth Look at Retail Pricing Practices, Infographic〕 A main driver of the deployment of this technology, is the lack of clean price and competitor data through traditional and manual methods.〔Angelica Valentine (2015)("10 Reasons to Stop Manual Repricing" ) 〕 Price intelligence is used within retail organizations to adjust prices so that retailers are right-priced relative to their competitors. It is used in the corporate head office to shape the pricing strategy, as well as in the marketing department to optimize paid search campaigns, and also amongst in-store employees to help boost in-store conversions.〔Angelica Valentine (2015)("Big Data's Impact: Personalized Shopping Experiences" ) 〕 ==Applications== Optimize corporate pricing strategy: retailers are using price intelligence to gain a better understanding of their price position in the market, relative to their competitors, and make strategic pricing changes according to real-data. Improve in-store experience: several retailers have taken price intelligence into their stores and empowered their in-store associates to ease the process of price matching requests. In March 2014, Wal-Mart launched Savings Checker. It allows consumers to check prices and get back the difference as a Wal-Mart Rewards eGift Card if another local retailer has any of the advertised sale products at a cheaper price.〔Wal-Mart Savings Checker http://www.retailwire.com/discussion/17411/walmart-makes-ad-price-comparisons-easy〕 Boost pay-per-click conversion rates: retailers are using price intelligence data in their paid search campaigns to throttle their ad spend based on price position relative to their competitors and in-stock availability. This application can result in up to a 64% increase in conversion rates according to a study done by Rise Interactive.〔64% Conversion Rate Increase in Paid Search: Abt Electronics http://www.riseinteractive.com/case-study-paid-search-feedpro〕 Repricing: Incorporating price intelligence into a pricing strategy is becoming more important to retailers, as 30% of them intend to engage in competitive monitoring in the next 12 months.〔30% of retailers aim to do competitive monitoring in the next 12 months http://risnews.edgl.com/retail-research/Pricing-Intelligence-Goes-to-War90346〕 With the data retailers find through price intelligence, they can effectively reprice in line with competitors.〔Angelica Valentine (2014) ("Dynamic Pricing in Real-Time: Where Online Retail is Headed" ) 〕 There are several technology companies that specialize in repricing and pricing intelligence. Some of the top examples are (Wiser ), (Import ), (get4it ), (Feedvisor ), (Marketyze ), (Competera ) and (Appeagle ). 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「price intelligence」の詳細全文を読む スポンサード リンク
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