Products

PriceCast Fuel

PriceCast Fuel (PCF) is the worlds first industry-specific retail fuel pricing, management and optimization solution developed by A2i. By combining state-of-the art Artificial Intelligence and Machine Learning with Big Data, PCF brings dynamic, predictive consumer-behavior-based pricing to the retail fuel industry providing a fully automated pricing decision system capable of achieving location-specific objectives optimally within any given corporate constraints. By applying self-learning capabilities PCF continuously assures the highest accuracy prediction in an ever-changing market.

Be rewarded for loyal custom, in a timely, relevant manner, exclusively.

Be rewarded for loyal custom, in a timely, relevant manner, exclusively.

Have peace of mind that the right price is going to the right location, at the right time

Have peace of mind that the right price is going to the right location, at the right time

Recognize revenue opportunities based on multiple factors, instantly

Recognize revenue opportunities based on multiple factors, instantly

Transform your staff from tactical to strategic, focusing on new ways to operate

Transform your staff from tactical to strategic, focusing on new ways to operate

A New Pricing Paradigm

Traditionally, fuel pricing is a data-informed approach, which means that data is just one part of the decision-making process. Typically, competitor prices are used by an experienced pricing analyst or pricing manager to make the overall decision for a given price point. This is a sound approach, but also a flawed approach. You could start giving more and more data points to the pricing analyst, but there is only so much data we humans can cope before the decisions start to become impossible – and then we turn to our trusted good old gut feelings which of course has never let us down before.

With PriceCast Fuel we are introducing a data-driven pricing approach. By utilizing state-of-the-art AI models we can focus on the data first – meaning that we can focusing on the behaviour of the consumers on the forecourt first. Combining this with your pricing strategy, the data tells you how to price accordingly. This means, that PriceCast Fuel will proactively predict and identify changing consumer trends through self-learning and take these into account whenever it does its pricing.

“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 fuelling.”

Ineke van der Meer – Tamoil

The six steps to AI pricing

Step 1
Build a database of historical transactions to teach the AI about market dynamics. Ideally last year’s and this year’s data.
Step 2
Integrate live transaction data from Point of Sales systems or central cloud data collectors.
Step 3
AI studies and learns customer buying behaviors and predicts demand.
Step 4
Pricing managers set strategies against current KPIs for each station and product, such as volume and margin. Cost prices are also read.
Step 5
AI determine the right price and time for each location and product, and automatically adjusting throughout the day.
Step 6
All transactions date are constantly delivered into the AI in order to secure continuous learning and predictions.

Going from Tactical to Strategic

PriceCast Fuel offers three kinds of price strategies out-of-the box: Strategic Rule Based Pricing (SRB), Advanced-AI Pricing (A-AI) and Restricted-AI Pricing (R-AI). All pricing strategies are fully customizable w.r.t rules, objectives and constraints making PCF the most powerful pricing tool available, whether you choose to be ‘price leader’ or ‘price follower’ in your market, PCF supports everything from simple fixed pricing to sophisticated dynamic pricing based on state-of-the-art predictive AI models forecasting expected customer and competitor behavior.

Working with PCF you manage price setting for each product on each station by setting the appropriate local strategy and targets according to the local or regional budgets and corporate constraints. Strategies may vary from station to station but with the use of KPI’s PCF will continuously let you know, how any particular station performs, and whether it will be able to reach the budgets and objectives within the chosen strategy, or if and how the parameters should be adjusted, or the strategy modified.

Rule Based

Calculates your fuel price by means of a number of fixed rules.
An example could be that to remain a fixed value from a cheaper competitor (e.g.always 3 cents higher).
This strategy is used to always have the same price as your competitor without having to change it manually.
Strategies can be set at a product level, for example LPG can be set to always be cheapest on market.

  • Run Rule-Based Strategy

    E.g. match lowest competitor price (delta adjusted)

  • Events

    E.g. every Wednesday lower price 0.1 CpG between 3pm and 5

  • Override Price Manually

    Overrides rule-based price if price set manually

  • Psychological Prices

    Always end price on 9/10

  • Limit Prices

    E.g. always stay above $1.5 and below $5 (else price sent to approval)

  • Approval

    E.g. all prices must be approved by pricing manager

Restricted AI

Instructs PriceCast Fuel to make an hourly calculation of the optimal price within the preset bandwidths.
Within these bandwidths, the optimal price is calculated and changed up to 24 times per day. Here you can see that the price (the dark line) is fluctuating within the bandwidth, which is determined by the cheapest competitor (the light line). The price is calculated and adjusted depending on the price elasticity of the customer and historical patterns.

Advanced AI

The Advanced-AI strategy is the most advanced strategy within PriceCast Fuel.
When the AI engine has collected sufficient data, this strategy can be used to provide you with the ultimate playing field between cost and list price. With no bandwidth, PriceCast Fuel finds the absolute optimal price. You will only have to monitor the performance. If an adjustment is needed, you can easily adjust the system to shift its focus from volume to margin and vice versa.

PriceCast Fuel is…

Accurate

Predicts optimal prices for each product with best possible precision

Agile

Reacts in real-time, changing prices at the right time

Local

Reacts to local market conditions and competitive environment

Automated

As a price decision system it can be included in an automated workflow

Adaptable

Configurable to meet specific business goals, objectives, and restrictions

Scalable

Scales with increasing data volume, granularity, and frequency, as well as other relevant data sources

Ease of Integration

Getting data into PriceCast Fuel is both easy and straightforward with standardized APIs and import tools. If the available APIs in the product isn’t sufficient, our services team can easily and quickly build custom integration to fetch the required data.

As a member of IFSF and Conexxus we are supporting the work of consolidating the APIs in the forecourt industry.

Services & Support

The PriceCast Fuel subscription gets you fully covered from a Service and Support angle. Our standard product support is available at all levels suitable to your business needs. Besides support, the subscription also includes what we call Performance Development services which entails tight cooperation with our business analysts to ensure that the system is configured in a way that gives you the best potential to reach your strategic business objectives.

The PriceCast Fuel Support Center performs the following tasks, but not limited to:

  • Incident Management
  • Problem analysis
  • Root case analysis and traces
  • Test and distribution of new software
  • Resolving of issues
  • Maintenance and bug-fixes for upcoming releases

The Cloud Service and Support contains the following, but not limited to:

  • 99.9% uptime
  • 24/7 monitoring OS and applications       
  • Redundant Compute/Storage infrastructure
  • Antivirus, Firewall, Security Updates of the servers
  • Redundant Threat Management firewall
  • Redundant network
  • Power (inclusive UPS) and cooling
  • Daily monitoring and follow up of backup routines including restore operations
  • Disaster Recovery Plan
  • Backup of all data on all servers

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