Point of View
Optimize B2B Pricing through AI
Why Artificial Intelligence-based pricing will strengthen your sales force
As pricing pressure intensifies in particularly dynamic markets, setting the right price is becoming more and more important. To achieve this, companies increasingly employ software and algorithms to support their pricing decisions and determine the optimal price1. Here the use of artificial intelligence (AI) software is on the rise2. Such tools process vast amounts of historical and real-time data, giving almost superhuman insight into market and customer dynamics. Data enables the prediction of customers’ and competitors’ reactions to price changes in different scenarios. As a result, pricing tactics can be suggested based on defined targets3. Studies show that AI-based pricing can increase sales by up to five percent in less than nine months. While many B2C companies are already using AI technology to optimize pricing, B2B pricing is significantly less mature in terms of data driven approaches, as there is still a lack of suitable solutions. Therefore, we want to highlight which challenges remain in B2B pricing, and how they are addressed by our AI-based pricing tool Artelligence®.
