Canada's Leader in Professional Development

855-581-7246 Call us: 1-855-581-7246

IBM DemandTec Extended Overview: Price Optimization (ILO)

Currently no upcoming Class Dates

Description

NOTE: This is a live, instructor-led online course. Please do not make arrangements to travel.

This extended overview is a hands-on training demonstration to introduce you to the major features of the IBM DemandTec Price Optimization solution.  It is the perfect way to learn a little more about Price Optimization without attending a multi-day event,if you are a Sales Director, Manager, Partner or tertiary user. Your session facilitator is well-versed in the solution and is happy to answer questions or show you items of interest.

Objectives

  • Relate the benefits of the Price Optimization solution
  • Describe pre-scenario data for anomalies in Reporting
  • Discuss Pre-price and Price-lock products that should not change during rules pricing or optimization
  • Product Status and which products will be included in the pricing action
  • Discuss data which supports Price Optimization rules such as, but not limited to, Size Families/Classes, Brand Families/Classes, and Other Families/Classes
  • Describe the use of Product and Store Groups for rules and CPIs
  • Relate the use of weighted and non-weighted CPIs
  • Discuss the creation of Rule and Category Groups
  • Describe the import and export of data
  • Differentiate between Rules Priced and Optimized scenarios
  • Describe the use of rules to support category strategies
  • Tell about scenario creation and the strategic use of rules
  • Relate the use of “what-if’â€? scenarios to compare the projected financial implications of various pricing strategies
  • Discuss the balancing of scenario financial results
  • Describe Scenario Summary and Compare Scenario features
  • Outline Scenario Results reports and Compare Scenario Details functionality
  • Discuss the use of the PRA and Product Analyzer to answer price change questions
  • Describe the rule relaxation methodology
  • Outline scenario approval and sending of prices to stores

Audience

This basic course is for:

  • Pricing Analysts
  • Pricing Managers
  • Category Managers
  • Pricing Executives or Sponsors
  • Manufacturing representatives or managers
  • Associated professionals

Prerequisites

You should:

  • Have some experience using web browsers, the internet and Microsoft Windows operating systems
  • Be able to navigate a GUI environment
  • Have experience working with spreadsheets and reports.

As you work through the concepts and tasks, it is assumed that you are familiar with Microsoft Excel; although this will not be a blocking issue to learning.

Duration

0.4 days

Topics

  • The benefits of the Price Optimization solution
  • Review pre-scenario data for anomalies in Reporting
  • Pre-price and Price-lock products that should not change during rules pricing or optimization
  • Product Status and which products will be included in the pricing action
  • Creation of data to support Price Optimization rules such as, but not limited to, Size Families/Classes, Brand Families/Classes, and Other Families/Classes
  • Creation of Product and Store Groups for rules and CPIs
  • Creation and calculation of weighted and non-weighted CPIs
  • Creation of Rule and Category Groups
  • Import and Export data into and from the Price Optimization Solution
  • The difference between Rules Priced and Optimized scenarios
  • The use of rules to support category strategies
  • Creation of scenarios and adding rules strategically
  • Running 'what-if’' scenarios to compare the projected financial implications of various pricing strategies
  • Balance scenario financial results
  • Review summary-level optimized prices using Scenario Summary and Compare Scenario features
  • Review Scenario Results reports and Compare Scenario Details functionality
  • Use the PRA and Product Analyzer to answer price change questions
  • Research price change causals
  • Investigate Rules Relaxations using the rule relaxation methodology
  • Override prices and reforecast benefits
  • Approve and send prices to stores

Click here to reach us by Email Contact Us
About | Terms of Use | Privacy Visit our Facebook page   Visit ot Linkedin page   View our Tweets