The rapid shift to remote data operations follows a decades-old transition to online business in general. The rise of e-commerce, and of consumers’ detailed, mobile-driven awareness of competitive options, has made product pricing of paramount importance. Having the right price for a single product – among hundreds of thousands of SKUs – can make all the difference in a highly-competitive promotion. When you add regional store variations, current margins, and last-minute sales or discounts, the pricing question can be challenging indeed.
Databases for current pricing can be connected to the retailer’s PIM system – or not. They can be hosted in the cloud – or not. Nearly always, they are custom-built by IT specialists who may still work for the company – or not. Pricing systems often have plenty of legacy system issues to make life difficult for the product marketing person charged with creating accurate campaigns.
A lot depends on accurate pricing. With razor-thin margins and high customer expectations, errors are a potential for serious financial chaos. Fortunately, advanced systems such as LAGO can create live connections between pricing data, product information, and multiple, versioned promotions, whether intended for print or online campaigns.