HOW WE COMPARE
With PriceCast, you are able to set objectives unique to your business. So, whether volume is important while keeping a margin budget, or improving margins whilst keep market share is top of your agenda – you are in control.
MODEL GRANULARITY
HOURLY vs DAILY
PriceCast predicts hourly price elasticity of fuel demand at the individual product level for each site, improving demand forecasting accuracy and enabling optimal pricing strategies. A more granular model like PriceCast allows businesses to respond quickly to changes in market conditions or customer preferences, leading to increased revenue and profitability.
PRIMARY DATA SET
TRANSACTIONS vs COMPETITOR PRICES
The primary data source for PriceCast is customer transactions made on the forecourt. This real-time information about customer behaviour
and price sensitivity provides valuable insights into customers’ preferences. Unlike others who rely on costly and time-consuming competitor price updates, PriceCast relies on correlating competitor prices with transactions to improve its forecasting. Additionally, the AI used by PriceCast Fuel is flexible and can easily incorporate and correlate with other data sources, such as traffic and weather.
TRUE COMPETITOR
AUTOMATICALLY vs MANUALLY
PriceCast’s AI model automatically identifies the competitors that have the greatest impact on customers’ price sensitivity throughout the day. Unlike traditional manual methods that rely on predefined distances to competitors, PriceCast dynamically determines these based on a variety of factors, including expected reaction time and movement of competitors in the surrounding areas. Additionally, the AI model considers the effects and trends of nearby and surrounding competitors, allowing it to be highly reactive and adaptable to changes in the market.
PORTFOLIO PRICING
GROUP & SINGLE vs SINGLE
PriceCast can optimise individual sites towards specific objectives, but its advanced distributed AI can also optimise a group of sites towards a common goal, leading to better optimisation results than managing each site individually. This approach considers pricing patterns and trends across multiple sites, improving revenue and profitability for the entire group.
HYBRID AI
STEPWISE vs BIG BANG
PriceCast uses a stepwise approach for AI- based price optimisation and offers a hybrid AI option called restricted AI to build trust in the AI. In restricted AI, the pricing analyst sets rules to define the optimisation range within which the AI is allowed to price. As trust is gained, the range can be extended until a site is effectively running advanced AI with minimal restrictions.
Like our competitors we also offer map view of prices, visual analytics, rule-based pricing and price approval flow.
ARE YOU READY TO HEAR MORE?
Our expert team are on hand to guide you through the set-up process and beyond.
AI & payment terminal malfunction
AI’s superpower is it’s ability to recognise patterns. Detecting anomalies plays a vital role in identifying deviations from what is considered ‘normal’. Anomalies can provide crucial insights into potential issues, exceptional events, or outliers within metrics. In...
How to solve a problem with AI – Price Capture
Artificial intelligence has the potential to solve a wide range of problems for businesses. To successfully apply and deliver a solution we must first clearly define the inputs and outputs, find good sources of data to train the AI, cast the problem in a way to fit...
Dow Jones Acquires A2i Systems
Latest acquisition advances Dow Jones’s energy business with industry-leading artificial intelligence (AI) capabilities Dow Jones announced that it has acquired A2i Systems, a world leader in AI-powered fuel pricing solutions. A2i adds to Dow Jones’s growing suite...
