Wise Athena is a SaaS product that allows CPG companies to set the right price to its products, in order to maximise sales volume or market share. According to different studies, 67% of retail trade promotions fail. To tackle this issue, Madrid-and-Houston-based Wise Athena has developed a solution that allows CPGs brands to make the best pricing and trade promotion decisions.
“If a CPG company has 50 SKUs that are sold via five retailers and in five different countries, there are trillions of possible price combinations”, explains Alfonso Vazquez, co-founder and CEO of Wise Athena. “As a result, every promotional cycle is overwhelming and companies need full data science teams and econometrics experts to even begin to optimize their margins and sales volume”.
By applying machine learning, Wise Athena is able to achieve the following:
- – Intelligently optimize pricing & trade promotions/li>
- – Predict retailer sales for every SKU through simulations of different price points
– Determine impact of competitors prices in category volumes