Revionics, Inc., a provider of retail life cycle price optimization solutions, has announced enhancements to its weather-driven demand intelligence feature.
The weather-driven demand feature, which is powered by Planalytics Inc., the provider of Business Weather Intelligence, is integrated into Revionics’ cloud-based Life Cycle Price Optimization suite. The suite also includes base, promotion and markdown pricing management and optimization solutions.
On a weekly basis, weather only repeats itself 20% of the time from the previous year, company officials say; therefore, if retailers are relying on just historical weather events and data, then they will not be accurate in their pricing forecasts and decisions. Due to this market need, Revionics and Planalytics forged a partnership in 2009 to develop a solution that would help retailers be more “spot on” with their weather-driven forecast and pricing strategies, say officials for both companies.
“Our partnership with Revionics allows us to help their customers understand how weather impacts consumer demand and spending across time, region and product category,” says David Frieberg, vice president of marketing for planalytics. “Equipping retailers with this type of weather-driven data and insight, ensures their pricing decisions are more accurate, which will drive higher sales and profits.”
“Through our partnership with Planalytics we have been able to meet a strong market need for accurate and reliable weather-driven demand intelligence that fuels critical pricing strategies,” says Marc Hafner, Revionics’ president and CEO.
Life Cycle Price Optimization suite
by Revionics, Inc.