"Prorize developed a pricing solution that would provide us with anticipated gains in revenue and efficiency. They effectively assembled all business facts, cleansed the data, and applied sound statistical methods to produce actionable rate recommendations. They were extremely resourceful, customer-focused and exceeded our performance expectations."

Modeling

Prorize offers best-in-class pricing and revenue management services and solutions...

Price Sensitivity Modeling

Accurate and ongoing measurement of price sensitivities is critical for optimal pricing decisions. Our unique approach to measuring price sensitivities substantially improves the effectiveness of pricing systems across multiple industries. We combine business diagnostics, in-depth data analysis, segmentation, and market response modeling approaches to produce the most accurate measurement of price sensitivities.

Forecasting and Predictive Modeling

We use a proprietary, automated tool that rigorously evaluates many commonly used forecast models for many industries. For example, our analysis of forecast accuracy in industries with relatively longer booking windows (including hotels, airlines, rental cars, and apartments) has shown that different models are often best for different booking windows. One model may be best for a long-term forecast, another for medium-term, and a third for short-term. Most existing forecast tools use a single model for the entire booking horizon which can produce an inaccurate forecast, leading to incorrect pricing decisions and lost profit opportunities. We determine if a variety of models delivers superior accuracy and, if so, we tailor the appropriate model to the proper time frame.

Price Optimization

Prorize delivers advanced price optimization solutions tailored to your data, business practices, needs, and objectives. Optimization algorithms represent the brains of any pricing system and produce profitable results only if they continuously produce recommendations that are acceptable to users, make business sense (e.g., lower price for highly price sensitive customers), obey business bounds or rules, and achieve higher revenue and profits.