Let data be your driving force
Using your customer data, PriceCast Fuel can improve volumes and margins and ultimately generate more profit, even in the most volatile market conditions. Our self-learning AI technology is able to identify and predict consumer trends, helping your business to meet your objectives and stay ahead of the curve.
Transform your team from tactical to strategic
React to changing market conditions in real time
Instantly recognise revenue opportunities
Select the optimal price for each product at each location
“PriceCast fuel is excellent for us. It gives us a detailed view on a very fluctuating market, it strengthens our agility and plays a key role in providing a real time perspective on our price fuel”
From tactical to strategic
PriceCast Fuel is a fully-automated pricing decision system, using real-time data to ensure your business objectives are met in an ever-changing market.
Weather, sporting events, time of day, global incidents – these can all impact on customer behaviour. With each price change, PriceCast fuel aims to find the perfect balance between ensuring the best margins and volumes and customer price sensitivity.
All of our pricing strategies are fully customisable to your business objectives and constraints and can support everything from simple fixed pricing to dynamic predictive AI models that forecast customer and competitor behaviour.
PriceCast Fuel allows you to manage the price of each product at each individual station. Strategies may differ between sites in your network but the state-of-the-art technology will monitor site performance against your KPIs, modifying the strategy and adjusting the parameters accordingly.
The traditional choice when the strategy is to base pricing decisions on a number of fixed rules. Different rules can be added and configured for different stations and products. An example of this simple, yet effective pricing strategy is to always remain the low-price leader in the market. PriceCast Fuel amends the price automatically when competitors adjust their prices to ensure the objectives of the strategy are achieved.
This allows you to follow the competition within a variable spread. The strategy could be to allow a spread around your competitor’s pricing of plus or minus x cent per litre. PriceCast Fuel will then find the optimum price whilst also considering other strategy objectives such as to never be more expensive than the competition, whilst also achieving volume and margin targets.
Advanced-AI brings multi-objective optimisation to the station and product level. Though state-of-the-art artificial neural networks and self-learning algorithms a predictive AI model is trained for each station based on customer purchasing behaviour as well as competitor pricing strategies and other data sources such as weather, traffic, license plates etc. This ensures a truly customer-centric approach to pricing that continuously predicts the best possible price to reach your volume and margin goals.
Six steps to AI pricing
Build a database of historical transactions to teach the AI about market dynamics. Ideally last year’s and this year’s data.
Integrate live transaction data from Point of Sales systems or central cloud data collectors.
AI studies and learns customer buying behaviours and predicts demand.
Pricing managers set strategies against current KPIs for each station and product, such as volume and margin. Cost prices are also read.
AI determine the right price and time for each location and product, and automatically adjusting throughout the day.
All transactions date are constantly delivered into the AI in order to secure continuous learning and predictions.
Set-up and support
Our expert team are on hand to guide you through the set-up process and beyond. We offer PriceCast Fuel customers 24/7 support from our centre based in Denmark.