Inquiry Response: Pricing Analytics Function in Retail Organizations
Inquiry:
What’s the right approach to pricing as an analytic function within a large retail organization? We refresh our elasticity models every few years, but is that enough?
Response:
THE BIG IDEAS:
- Teams and roles
- Thresholds and gaps
- General advice
TEAMS AND ROLES
In an ideal world, an analytics team centered around pricing has the following roles and responsibilities:
- Data scientist/engineer: Focus on making sure the data’s right.
- Trade promotion management: Focus on
