How do we maximize revenue when new technology and attributes are constantly changing and still create a stable and predictable pricing platform? Given that value is reflected in perception, and value-based analysis becomes difficult to define in limited production, highly customized products, what procedures can be undertaken to elicit market control? Innovation being paramount to industry success, process rigor and refinement is needed to ensure growth trajectories.
Designed and implemented a comparative analytics engine based on the plethora of engineering and FDA information available publicly and in industry-based data repositories. Further combined this data set with information captured in customer and non-customer surveys into a conjoin analysis to understand the value to performance quotient.
To support the new data capture, created an attribute-based analysis on products sold at specific price points to create anchor prices for each unique attribute. Once the above was completed ran a multilevel CHAID analysis to predict best bundling opportunities cross referenced to sales.
Development of an if/then engine allowing for more predictable prices to reach the marketplace. Furthermore, the platform assisted engineering for improvements and functionality based in consumer behavior rather than a shotgun approach.
Results
