Inquiry Response: Pricing Analytics Function in Retail Organizations

Inquiry:

What’s the right approach to pricing as an analytic function within a large retail organization? We refresh our elasticity models every few years, but is that enough?

Response:

THE BIG IDEAS:

  • Teams and roles
  • Thresholds and gaps
  • General advice

TEAMS AND ROLES

In an ideal world, an analytics team centered around pricing has the following roles and responsibilities:

  • Data scientist/engineer: Focus on making sure the data’s right.
  • Trade promotion management: Focus on

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