Light and shadow when using it in a real-time enviroment
Use Cases and Deployment Scope
We [use] Pricefx for dynamic pricing of leisure tickets based on a customized algorithm [that important] real-time data like weather, bookings, and user characteristics. We are using different [models] to forecast volume and revenue, optimize prices[,] and provide APIs for external partners. Our solution is in use for online webshops and [cash-desk] operations.
Pros
- Integration of external data[.]
- Pre-calculation of prices based on an customized algorithm[.]
- Simulation and forecasting of volumes and revenue[.]
Cons
- Stability and reliability[.]
- Performance
- User Experience (steep learning curve)[.]
Most Important Features
- Integration Manager to connect external data sources[.]
- Live Price Grid to (re-) calculate prices based on events[.]
Return on Investment
- Subscription model to decrease up-front cost[.]
- Increase in online ratio of bookings[.]
Alternatives Considered
Vendavo