Optimize pricing strategies based on audience characteristics
35% of software buyers do not renew with a vendor because of pricing
Delivering a real-time, dynamic pricing model has become increasingly critical in an on-demand world, particularly as many vendors move toward consumption-based pricing and billing. Automating real-time and audience-based pricing is a ripe opportunity, but it also presents risks:
- Unifying the necessary data to make predictions is costly and time-consuming
- Bad data inputs can cripple even the most robust dynamic pricing strategy
- Customers may be alienated by price changes that seem random or unfair
A Better Way:
It is now possible to gain real-time insights into supply and demand so that pricing can accurately reflect ever-changing conditions. Improvements in data collection and analysis allow organizations to tackle dynamic pricing in today’s data-driven world.
The Database for Real-Time Decisions
FeatureBase is designed to deliver secure, fast, continuous access to all your data in a machine-native format. The first and most crucial step in leveraging big data for dynamic pricing is ensuring all of the data is accessible and ready for analysis..
Rather than the conventional approach of moving, copying, and pre-aggregating data, FeatureBase makes data immediately accessible, actionable, and reusable by extracting features from each underlying data source and storing them in a centralized access point. FeatureBase maintains up-to-the-millisecond data updates to enable real-time dynamic pricing with no time-consuming, costly pre-aggregation necessary.
The Benefits of FeatureBase:
Predict at Scale
Eliminate the need to pre-aggregate or preprocess data, allowing your teams to dynamically price on the freshest data in real-time.
Ingest and analyze all of your data without concerns around rising storage and compute costs.
Collaborate Across Your Entire Organization
With a single access point to decision-ready data, Marketing, Product, IT, and more each get the data they need, in real-time.
Real-Time Dynamic Pricing with FeatureBase:
Request a Consultation—
Contact us today to learn more about how Molecula’s FeatureBase can transform your business through eliminating pre-aggregation and unlocking real-time value.