PROS® (NYSE: PRO), a big data software company, today announced that a new Gartner MarketScope rates the company a “strong positive,” the firm’s highest-possible ranking. The report, titled “MarketScope for Price Optimization and Management: 2013,” was written by Gartner Research Director Christopher Fletcher.
“The Gartner MarketScope offers valuable insights and guidance for companies evaluating price optimization, and we are honored to once again achieve a ‘strong positive’ rating,” said PROS Chief Marketing Officer Tim Girgenti. “The report reflects the voice of the market, noting that PROS reference customers gave us the highest grades overall in key buying criteria, including ease of use, ease of deployment, functionality, roadmap, vision and overall satisfaction. The results directly reflect our commitment to innovation and customer success, and our mission to help companies use their big data to outperform.”
According to the report, “A successful price optimization and management (PO&M) implementation can increase margins by 50 basis points or more, and increase revenue by 2 percent to 4 percent. Based on this success, price optimization has shown steady growth during the past two to three years and has found its way onto the CxO’s agenda, aligning closely with executive priorities of revenue generation, customer acquisition and profit/margin improvement.”
The report also notes that “Managing price optimization through internally developed spreadsheets and data base tools is no longer viable. The increasing sophistication and capacity of the analytic, data, and application tools used for PO&M are increasing the granularity of pricing, while the growing volumes of data, the ability to use advanced analytic and visualization tools to enable the parallel analysis of product and price data, market segment insight, sales and customer data, inventory and competitive data, and the integration of both internal and external data sources are enabling the ability to create and manage microsegments.”