Product Review
Competera is one of the leading pricing software vendors operating mostly in the United States and EMEA region. The company offers a diverse product setup for online and omnichannel multi- or mono-brand retailers across all types of retail industries.
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Competitive Data is one of the three major products offered by Competera. The two others are Pricing Automation and Price Optimization. One of the biggest advantages of the services provided by Competera is the flexibility of the product setup.
For example, the business can choose the combination of products, e.g. use the part of Price Optimization functionality powered with Competitive Data. All the products and services provided by Competera are organized within a single ecosystem which can be accessed and managed via an easy-to-use dashboard. The latter is enhanced with a large number of useful features enabling users to manage pricing more effectively. In particular, Competera users can set and track the progress of goals’ achievement, test various pricing scenarios before applying them, explore the factors impacting every pricing decision via a set of the so-called interpretability features, etc.
As all the services and products by Competera are built around the same ecosystem, it means that the retailers can add additional functionality and adjust the product setup whenever it is needed. In other words, Competera platform enables retailers to manage prices at various stages of business development which is considered by many players as a huge advantage.
Advantages of Competitive Data solution
- Speaking of the Competitive Data product offered by Competera, a few significant characteristics are worth being pointed out.
- Competera can collect multiple data depending on a client’s needs in real-time thanks to ML-driven product matchings.
- – Besides the actual price, the data set collected by the platform also includes shipping costs, taxes, size units, and product offering options.
- – Competera provides exact product matchings based on product attributes, image recognition, titles, barcodes and similar product matches which can be tracked based on a tailor-made logic customized for unique business specifications and constraints, as well as on any other available information regarding the product attributes.
- – The ability to monitor diverse types of resources. In most cases, these include direct competitors’ websites, marketplaces, including Google Shopping, Shopify or Amazon, and also mobile applications.
- – The unlimited data storing period provided by Competera platform. In particular, the businesses are often using the historical competitive data while shifting to more advanced types of price management implying the ML-based analysis and forecasting. The latter are provided by Competera as a part of the Price Optimization product.
- – The quality and accuracy are worth special mentioning. In particular, the ML-driven product matchings provided by Competera have a guaranteed accuracy of 98+% and the same quality rate also refers to all the other data delivered. These rates are included in SLA agreements which means that the clients’ interests are secured.
- – The integration takes approximately 2 weeks. Once the client is onboarded, the company provides a dedicated team of support to help solve requests quickly and smoothly.
Disadvantages of Competitive Data solution
- When it comes to the disadvantages of Competera pricing platform and Competitive Data, in particular, the major aspect to be pointed out is the price. As Competera offers relatively high-cost solutions, these are only the big retailers that can afford them. In contrast, the small-size retailers usually prefer the cheaper providers offering the lower quality of the services.
