A system for intelligent pricing in the construction industry
business tasks
- Forecasting sales of real estate and the best period for changing the price of a property
- Reducing labor inputs in the pricing process due to optimized business processes
- Supporting decision-making in real time
solution
- Statistics unit. An interactive report that contains trends in sales, prices, and customer activity. Reports can be displayed in different views, from company-wide aggregated indicators to a specific facility
- Forecasting unit. Daily upd ated probability of selling a property in the next month. Aggregated forecast results drilled down to the level of an apartment or section blocks in a project
- Recommendation unit. Daily updated recommendations regarding changes in the price of properties, types of apartments, and section blocks. Flexible settings for recommendations se t by users or changing dynamically, depending on the options for price variation
implementation effect
- Increased revenues from real property sales
- More efficient frequency of price changes owing to forecasting of future deals
- Checking the forecast reliability and demand elasticity in real time
- Increased additional revenue owing to a flexible approach to dynamic analysis and forecasting
- Optimized labor input (for example, a reduction in the number of analysts who run pricing procedures in manual mode)
- Time for making decisions reduced from several days to a few minutes