Ventana Research Analyst Perspectives

Nomis Solutions Targets Price and Revenue Optimization in Financial Services

Posted by Ventana Research on Apr 29, 2015 8:27:10 AM

Price and revenue optimization (PRO) software uses analytics to help companies maximize profitability for any targeted level of revenues. PRO utilizes data about buyer behavior to gauge individual customers’ price sensitivity and predict how they will react to prices. It enables users to charge buyers who appear to be less sensitive more than those who appear more price-sensitive.  PRO is a significant departure from inward-focused, single-factor pricing strategies such as cost-plus pricing or, in the case of financial services, risk-based pricing (using a borrower’s credit score, for example). Instead it offers a multifaceted customer-centric analytic approach to pricing built on analysis of large sets of data.

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Topics: Nomis Solutioins, Revenue, Business Performance, Financial Performance, pricing, financial services, optimization