Opportunity/Problem Statement

Loss of strategic contracts due to not having a fuel forecasting model.  Furthermore, the space was dominated by a high cost fuel price management company. The client needed to expand their offering into the market via integrated services in order to capture share. Scientific Pricing being the final component.

Action Taken

Created a bifurcated model based on local transaction data and competitive price scraping to create a predictive model with Win/Loss and What-if Analysis capabilities (algorithms, analytics, and software).

Developed in a cloud-based revenue optimization solution in order to manage system requirements and keep security high.  On order to achieve desired results and model accuracy, used adaptive modeling techniques to accommodate short term market changes.

Further, develop knowledge and data capture systems to instill institutional knowledge for the local, regional, and corporate wide competitors.  Allowing the model, a plethora of new data avenues to further optimization in subsequent phases.

Benefits‍

• A modularized, cloud based full analytics platform currently being utilized in over 6,000 gas stations in North America
• Rapidly expanding in use and phase two plans to bring in value coefficients to better maximize pump and internal (store side)sales and margin 
• Creation of a new division for the company,supporting 11 roles, with yearly revenue from the standalone product brings over $4 million in every year
• Non-Volumetric discounting was eliminated (11% increase on net price) for historical products
• Sales Cycle time went from an average of 70 days to 45, with winning Bids increased from 52% to 67%.

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