Price cast fuel product folder
Spend your time and resources better by using PriceCast Fuel to set the fuel prices more optimal. Let the software automatically set the prices after the best strategy for your business. PriceCast Fuel uses live transactional and competitor data input to automatically calculate the most optimal price several times a day so that each station can reach its individual business goal.
Published on: Mar 4, 2016
Transcripts - Price cast fuel product folder
RETAIL FUEL PRICING – MANAGEMENT AND OPTIMIZATION
You don’t outsmart competition
by doing the same
Take competitive advantage of
advanced dynamic pricing
Dynamic Retail Fuel Pricing
- from strategic rule based pricing to advanced AI pricing
OPTIMIZED & AUTOMATED PRICING
Going from manual operation to strategy management –
spending the time and resources better.
Having PriceCast Fuel managing the price setting for each
product on each station within the regional corporate con-
straints all you need to do is to set the right local strategy,
which will give the best possible results according to the
regional budgets and objectives.
The local strategy might vary a lot from station to station. On
some stations the strategy might just be to work with simple
rules and let the price follow competition strictly with a fixed
distance. On other stations the strategy can be to optimize
the price within a tolerance spread of e.g. 2 eurocent to
competition. Yet on a third group of stations the strategy
can be, to be the price leader and set the optimal price - with
the desired balance between volume and margin - staying
within corporate constraints.
There can be several strategies. They can be local, regional
or national, and with the use of KPIs, PriceCast will continu-
ously let you know, if the station is on track, and whether it
will be able to reach the budgets and objectives with the cho-
sen strategy, or if and how the strategy should be modified.
APPLYING ARTIFICIAL INTELLIGENCE
TO BIG DATA – WHERE IT MAKES SENSE!
PriceCast Fuel represents the next generation pricing sys-
tems and has already revolutionized the Retail Fuel industry
in parts of Europe and set new standards for how the most
ambitious retailers optimize their business and play the stra-
tegic game of pricing.
With the use of Artificial Intelligence PriceCast Fuel detects
behavioral patterns in Big Data (all available data relevant to
the sale) and relates to customer and competitor reactions
with a frequency and level of accuracy that users of tradition-
al pricing systems only can dream about.
Dynamically mapping customer and competitor behavior in
order to identify the optimal route (price setting) through out
the day, makes it possible to relate to any given change in
the local situation for a given station and re-route accordingly
when necessary and within seconds.
MORE EFFICIENT AND ACCURATE PRICE SETTING
Why only work with percentages (%) when PriceCast can
work for you with “per-milles” (‰) too? How much is it ac-
tually possible to change the price without influencing cus-
tomer and competitor behavior? The additional volume and
margin is in the details and the details are in the Big Data!
Evidently, the more detailed you know your customers be-
havior and how and when they react to even the smallest
changes, the more you can optimize your business.
By applying artificial intelligence to your historical and your
live transactions PriceCast Fuel detects the details that gives
the extra “per-milles” (‰), which means additional millions
at the bottom line.
DEEP LOCAL MARKET INSIGHT
The world is dynamic! No matter whether you have 3000 or
300 stations in your regional network, each station exists
in a world of its own. The impact of location, the season,
the day, the time, the competition, the weather, your brand
image and your pricing plus many other factors, will be differ-
ent from station to station and product to product. It is not
even likely that one station will ever experience two Wednes-
days with an identical product sale.
Every day is a new day and only the ability to sum up and
learn from all similar and relevant experiences (Big Data)
will get you close to knowing how your pricing will influence
your customers behavior. That is why PriceCast is in perfect
touch with the sale of each product on each station – dynam-
ically mapping and predicting local customer behavior from
minute to minute and transaction-to-transaction – optimizing
the ‰ within the corporate constraints and according to the
MOBILITY, FLEXIBILITY AND SCALABILITY
PriceCast Fuel is completely OS independent and runs on all
HTML5 compatible tablets.
This gives a flexibility making it possible for users to access
the PriceCast tool from anywhere and at any time. Depend-
ing on roles relevant features and information can be acces-
sible from the field as well as the office or home.
Reports can be created exactly in the shape and format you
wish and even exported to other systems or programs if
PriceCast Fuel will never be your limit as the system grows
with you. Should you decide to deploy the system ex. world
wide the system scales with you and your users.
STANDARD OR BESPOKE, EASY INTEGRATION
“Straight out of the box” or “tailor-made” specifically to your
desired way of working? Or maybe somewhere in between…
The choice is yours. No matter what, implementing a new
pricing solution should not be a significant IT project. Data
access and time-to-market is the key to success. This is why
PriceCast Fuel is OS independent and designed to integrate
with any ERP, POS or other third party system with which
it will share information. This makes PriceCast Fuel an add-
on easily integrated into virtually any existing infrastructure
It is our belief that complexity and uniform user interfaces
kills efficiency and the joy of high performance. That is why
PriceCast is build with a modular and intuitive user interface
designed for business excellence. Easy deployment gives a
smooth transition and the best possible conditions for rapid
GET IN TOUCH
a2i systems A/S
+45 3168 3120
VAT no.: 30602730
a2i systems A/S
a2i systems A/S
Center Boulevard 5
DK-2300 Copenhagen S
STRATEGIC BUSINESS AGILITY
Different markets and different business strategies requires
different approaches to pricing. This is why PriceCast Fuel
is designed with the flexibility to deploy the right strategy for
the local business.
STRATEGIC RULE BASED PRICING
Strategic Rule Based pricing is the traditional choice when
the business strategy simply is to base the pricing decision
on a set of business rules and restrictions. The rules can be
linked to a long complex list of input e.g. competitor prices,
volume sales targets, time, margin, psychological filters etc.
Often Strategic Rule Based pricing can be a simple and yet
very efficient pricing strategy if the Brand Image ex. is: “We
are always the cheapest alternative”.
RESTRICTED AI PRICING
Restricted AI pricing is efficient when the strategy is to follow
the competition with a variable tolerance distance. The stra-
tegy could be to allow a tolerance spread from the competi-
tion on e.g. plus or minus 1,5 eurocent and then let the AI
Optimization Module find the optimal price within this spread.
If the strategy is never to be more expensive than competi-
tion, the tolerance can be one-sided e.g. plus 0 and minus
3 eurocent. Then the AI module will find the optimal price,
just below competition, but still with room for optimization –
according to volume and margin objectives.
Restricted AI is a modern and much more dynamic and ef-
ficient alternative to conventional price elasticity systems.
Where conventional price elasticity is based on static algo-
rithms that have to be recalculated on a regular basis to
ensure up-to-date accuracy, restricted AI will in its nature
always be self-updating and thereby dynamically staying in
close contact with the market.
ADVANCED AI PRICING
Advanced AI pricing is the ultimate strategy when the objec-
tive is to reach the absolute optimal balance between the
volume and margin-budgets.
Advanced AI pricing is based on learning algorithms to con-
struct dynamic profiles of customers and their purchasing
patterns, as well as competitors and their strategies on both
micro and macro scales. PriceCast Fuel’s AI module uses
sophisticated methods for reasoning about uncertainty and
dealing with incomplete data to mimic a flexible, almost hu-
man-like behavior. These methods allow PriceCast Fuel to
rapidly, intelligently, and continuously react to changing cus-
tomer behavior, changing markets, and unexpected events.
The automated and continuous observation of the complex
interactions obscured in the data results in a system with
superhuman expertise. That is the key to the superior per-
formance of PriceCast Fuel compared to conventional, less
flexibility and agilityHighLow Mid