Knowledge about the elasticity of your products can significantly increase revenue and margin. The price elasticity of a product indicates the extent to which demand changes when the price of that product is modified. SYMSON uses AI and ML tools to run analysis on all products, and automatically suggests the most optimal price for higher revenue or higher margin. SYMSON offers the opportunity to predict optimal prices based on elasticity for every product and for every time frame. To know more, you can head over to our pricing strategy guide where we took an in-depth explanation approach.
