Success Case | Sophisticated Pricing Optimization System Expected to Generate $3 Million Return on Investment
Global energy and chemical company committed to mobility and sustainability that develops its business on 5 continents, with a yearly turnover of 33 billion euros.
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The Challenge
Oil Company aimed to increase the average price of oil products such as gasoline and diesel without affecting demand. The challenge was to implement a dynamic pricing strategy optimizing prices in real-time, considering various factors. The goal was to maintain customer demand while increasing revenue through a data-driven approach.
The Solution
Keepler tackled the challenge by designing, training, and deploying over 1,200 data models to dynamically adjust gasoline prices at each gas station:
- Comprehensive Analysis: The models considered various factors, including demand elasticity, weather, city events, and a comprehensive business rule engine to ensure the optimal pricing strategy.
- Real-Time Pricing Adjustments: Advanced data activation techniques enabled the system to make real-time pricing adjustments, maximizing revenue without compromising customer satisfaction.
- Adaptive System Flexibility: The system’s flexibility enabled it to adapt to changing conditions and factors that influence pricing decisions.
The Result
Keepler is a full-stack analytics services company specialized in the design, construction, deployment and operation of advanced public cloud analytics custom-made solutions. We bring to the market the Data Product concept, which is a fully automated, public cloud services-based, tailored software that adds advanced analytics, data engineering, massive data processing, and monitoring features. In addition, we help our customers transition to using public cloud services securely and improve data governance to make the organization more data-centric.
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