DataWeave, a pricing and assortment intelligence provider, aims to help retailers act on price and inventory improvement opportunities by analyzing how their offerings compare to their competitors’. The software helps companies tweak prices on products that are either too high or too low, maximizing revenues and margins.
Retailers can use DataWeave to help them build desired price perceptions among shoppers. The platform lets retailers drill down into pricing insights of specific items and categories to help them understand how they compare to competitors. Specific pricing capabilities include:
- Analyzing historical pricing trends to help retailers gain a better view of competitors’ pricing strategies over any period to anticipate price movements;
- Breaking down analyses along dimensions including category, product type, brand and individual products; and
- Enabling retailers to track aggressive price movements by competitors to help them react quickly and properly.
DataWeave’s assortment intelligence helps retailers by:
- Helping them maintain a favorable mix of unique, overlapping and out-of-stock products in their product assortment compared to the competition;
- Monitoring the overall health of a product assortment by classifying products based on price range, product attributes and recent trends; and
- Enabling retailers to discover insights into the most popular and discoverable brands and products on any e-Commerce web site.