[Economic intelligence]

The price watch challenges for e-commerce

The explosion of e-commerce and the management of a growing number of products each month make it difficult to maintain an accurate vision of their competitiveness.
How can a buyer be instantly given the information they need to evaluate and renegotiate supplier offers in a very short time?

Maintaining an accurate view on price positioning and giving a buyer instant access to the information needed to evaluate and renegotiate supplier offers

For who?

A French international pure player

How?

The architecture of the solution adopted is separated into four parts:

 

  1. Collection of distributed data and ingestion into Octopeek databases.
  2. Reconciliation of data and provision of qualified data in our databases.
  3. Machine Learning module that matches the products by name and / or description.
  4. Implementation of an interactive and customizable Dataviz through the use of different filters and different views (evolution, brand, comparison synthesis, etc.).

And the results?

The solution implemented by Octopeek enables data retrieval via an intuitive and easy-to-use web application, validated by customer business teams.
Two main functions:

  • competitive intelligence achieved with matching using NLP (Natural Language Processing)
  • a DataViz to follow changes in the evolution of the customer offer and those of its competitors. The solution also offers the possibility of calculating a price index for a family, sub-family, universe, brand…
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