Price Optimization & Neural Networks
Smarter Pricing with Neural Networks
Revolutionize your pricing by harnessing the power of neural networks. Uncover untapped opportunities and leave behind the limitations of older, segmentation-based models.
No Hype. Just Results.
Neural network-based AI increases pricing prediction accuracy and win-rate probability by more than 30%* — expediently improving profit margins and revenue across the business. The neural network adapts to market dynamics in real-time, processing new data as it occurs, while recognizing the uniqueness of each negotiated sale. All delivered with confidence through explainable AI.
* Neural networks consistently reach over 90% price prediction accuracy, unlike segmentation models, which are more limited in their data analyses and therefore only about 60% precise.
Results
Businesses around the world are using our solutions to achieve exceptional results on their journey to digital transformation.
4.5%
Revenue Uplift
A global US-based Food Manufacturer boost revenue using pricing technology powered by neural networks.
11%
Margin Uplift
A global EU-based Industrial Manufacturer maximized profit margins in negotiated deals across all sales channels.
2x
Greater Adoption Rate
Based on an analysis of PROS customers, the neural network model sees far greater adoption of price recommendations than the segmentation–based model.
Setting the Standard in Optimization
We infuse neural network technology across the PROS Platform to deliver the most advanced price, capacity, demand and forecasting optimization solutions on the market.
Smart Price Optimization & Management
AI-powered, omnichannel price optimization and management solution that delivers in real time customer-specific pricing, win rate predictions, and actionable insights.
- LEARN MORE
Capacity Aware Optimization
AI-powered model that enhances your price strategies by estimating the opportunity cost of limited or perishable resources. It helps you adjust prices dynamically, prioritize high-value customers, and maximize revenue. Offered as an add-on to Smart POM.
- LEARN MORE
The solution provides us with so many details around each attribute and many ways to dig into the data. In the neural network, the price prediction is significantly better, enabling us to stay ahead of inflation. PROS Gen IV AI provides more strategic pricing recommendations that align with the market and our strategy.
Frank Moore
Division Pricing Manager
Book a Demo With An Outperformance Expert
Meet with a PROS professional. Put the product—and our service—to the test. Together, we’ll help your company perform to its potential.
FAQs
How do neural networks enhance price optimization?
Neural networks enhance price optimization by analyzing a wide range of structured and unstructured data—product details, competitive landscape, customer behavior, market indices, seasonality, location, revenue, inventory levels, and even consider data gaps to learn from. This allows them to uncover complex patterns across the entire business, navigate complexity with ease, adapt to market dynamics in real-time, and deliver highly accurate price predictions and win rate probabilities your sales teams can trust.
What are the benefits of using neural network-powered pricing solutions?
Neural network-powered technology drives revenue and margin profit growth in weeks by translating business complexity and market dynamics into precise, competitive prices, aligned in real-time with the latest conditions and demand. It can further maximize revenue with efficient capacity utilization. Unlike segmentation models, neural networks “thrive” in volatile and highly complex business environments, such as thousands of products and customers, constantly changing market conditions, and disruptive events.
How do neural networks compare to traditional segmentation models in price prediction accuracy?
Neural networks consistently achieve over 90% price prediction accuracy, compared to traditional segmentation models, which typically reach around 60%. This higher accuracy stems from neural networks’ ability to mimic human reasoning, analyze diverse data sources, adapt swiftly to market changes, and interpret large volumes of data. These capabilities result in more reliable and effective pricing strategies and forecasting.
How can neural network-based technology help in managing large product and customer lists?
Neural network-based technology enables pricing leaders to handle extensive product and customer lists with ease. It delivers competitive, personalized pricing across a vast array of products, allowing for swift and effective optimization strategies even in complex scenarios.
What impact does neural network-powered pricing have on sales team adoption and trust?
Neural network-powered pricing promotes pricing discipline and enhances customer loyalty. As sales teams begin to use these prices, their confidence in the system increases, appreciating the real-time optimization and successful outcomes driven by neural networks. This results in higher adoption rates and better sales performance.