Methods and systems for making pricing decisions in a price management system
View Patent ↗Pricing decisions and policies in a price management system are made based on a unified database populated with correlated commitment data and transaction data. A historical database is populated with commitment data and transaction data. Each transaction data is then correlated with a commitment data. The resulting correlated data is then analyzed to make pricing decisions and policies.
1. A method of making a pricing decision in a price management system comprising:
generating commitment data by converting commitments in an object form into commitment data in a single normalized form, and wherein the conversion uses a user-defined mapping file;
populating a historical database with commitment data and transaction data;
correlating each commitment data with a corresponding transaction data to generate correlation data;
populating a unified database with correlation data;
analyzing the unified database; and
wherein pricing decisions are made based on analysis of the unified database.
2. The method of claim 1 wherein commitment data and transaction data are correlated based on corresponding unique identifiers.
3. The method of claim 1 wherein commitment data and transaction data are correlated based on analysis of at least one attribute from each data.
4. The method of claim 1 wherein the unified database is stored in random access memory (RAM).
5. The method of claim 1 wherein the analyzing of the unified database includes defining business metrics of Key Performance Indicators including a success rate based on a comparison of actual sales against forecasted sales.
6. The method of claim 1 wherein the analyzing of the unified database includes filters for isolating selected attributes associated with the commitment data or the transaction data.
7. A system for making pricing decisions in a price management system comprising:
a recalculator engine for generating commitment data by converting commitments in an object form into commitment data in a single normalized form, and wherein the conversion uses a user-defined mapping file;
a unified database containing correlation data that correlates commitment data with transaction data;
a user interface for displaying and analyzing the unified database; and
wherein pricing decisions are made based on the analysis of the unified database.
8. The system of claim 7 further comprising:
a historical database populated with commitment data and transaction data; and
a correlation module for correlating the commitment data with the transaction data.
9. The system of claim 7 wherein the unified database is stored in memory.
10. A computer program product in a computer readable media for making pricing decisions in a price management system comprising:
a recalculator engine for generating commitment data by converting commitments in an object form into commitment data in a single normalized form, and wherein the conversion uses a user-defined mapping file;
a unified database containing correlation data that correlates commitment data with transaction data;
a display for displaying and analyzing the unified database; and
wherein pricing decisions are made based on the analysis of the unified database.
11. The computer program of claim 9 further comprising:
a historical database populated with commitment data and transaction data; and
a correlation module for correlating the commitment data with the transaction data.