Enhancing Pricing Intelligence with Reduced Data Collection Time

Connotate collects Web data and enhances pricing intelligence while significantly reducing the time spent on data collection.

Web data collection for monitoring pricing intelligenceSigma-Aldrich provides biochemical and organic chemical products, kits and services to millions of scientists and technologists worldwide. The company strives to ensure that all of its products are competitively priced according to market conditions and competitor offerings.

Sigma-Aldrich needed a quick and efficient way to collect real-time pricing data from its competitors. Previously, an elongated, manual process had yielded inaccurate data, which distorted findings.

Connotate’s Web data collection solution now provides Sigma-Aldrich with precise, dynamic pricing information to fuel its pricing program, helping to ensure optimized positioning for more than 187,000 products. The company has reduced the time it takes to monitor and collect Web data by at least half — and they are able to do more analysis of historical trends because data is delivered in a more usable format.

Project Highlights

  • Connotate collects and aggregates product category pricing intelligence from the Web at regular intervals as well as on demand
  • Connotate structures the data, which is then loaded onto a staging/processing database; the staged data is published to an FTP server, processed, and sent to an SAP data warehouse, which delivers reports for pricing managers in spreadsheet format
  • Connotate was deployed as a hosted web data collection solution, allowing Sigma-Aldrich to avoid the expense of maintaining additional hardware or hiring more employees

“Connotate provides us with real-time pricing information in the format we need to make the best pricing decisions for our products.” – Shari Kleklamp, Global Pricing Manager, Sigma-Aldrich

Discover how Connotate can help your organization increase profit margins by optimizing product pricing. Contact Us Today!

Market:
Biochemicals and organic chemicals supplier.

Challenge:
Automate the process of capturing real-time competitive pricing data on more than 187,000 products while providing superior cost/benefits over home-grown Web scraping applications and manual processes.

Results:
Connotate collects pricing intelligence to help Sigma-Aldrich optimize product positioning for more than 187,000 products. Connotate reduced the time spent on Web data monitoring and collection by at least half.

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PRODUCTS OPTIMIZED FOR PRICING