Grid Dynamics Introduces Pricing and Promotion Optimization Starter Kit on Microsoft Azure

Rhea-AI Summary

Grid Dynamics has launched a new Pricing and Promotion Optimization Starter Kit aimed at helping companies streamline pricing strategies on Microsoft Azure. This solution reduces costs, timelines, and risks in developing price management tools while maintaining flexibility through an open-source approach. By leveraging historical sales data and external factors, the kit enables intelligent pricing adjustments. Additionally, it helps Grid Dynamics attract new customers and deepen engagements with existing ones, enhancing operational efficiency and supporting cloud migration efforts.

Positive

• Launch of Pricing and Promotion Optimization Starter Kit enhances pricing strategies for clients.
• Utilizes Microsoft Azure, providing scalability and integration for customers.
• Reduces development costs and risks associated with price management solutions.

Negative

• None.

Key Takeaways:

• Grid Dynamics' new Pricing and Promotion Optimization Starter Kit helps companies optimize pricing and promotions. It is part of Grid Dynamics' ongoing work as a Microsoft Partner.
• The new starter kit reduces the costs, timelines, and risks associated with the development of price management solutions without compromising on the flexibility of the open source-based approach.
• The solution is developed based on a reference implementation which is customized to meet the needs of a specific customer to reduce costs and improve operational and development efficiencies.
• This offering helps Grid Dynamics acquire new customers and expand engagement with existing customers who are on application modernization and cloud migration journeys to Microsoft Azure.

SAN RAMON, CA / ACCESSWIRE / December 7, 2022 / Grid Dynamics Holdings, Inc. (NASDAQ:GDYN) (Grid Dynamics), a leader in enterprise-level digital transformation services and solutions, announced today it is releasing a new Pricing and Promotion Optimization Starter Kit. Developed to leverage Microsoft Azure, the new kit enables customers to create price management pipelines on Azure that leverage historical sales data, product attributes, competitor pricing, and information about various external factors to automatically and intelligently optimize list prices and promotions.

The solution provides a reference implementation customized to meet a specific customer's needs. The primary goal of the Price Optimization Starter Kit is to reduce the costs, timelines, and risks associated with the development of price management solutions without compromising on the flexibility of the open source-based approach.

The Price Optimization Starter Kit provides a reference pipeline that includes the following steps:

1. Data preparation. Sales and catalog data are loaded and transformed in a format suitable for downstream modeling.
2. Demand forecasting. The demand forecasting model is used to evaluate the demand for different pricing scenarios.
3. Demand analysis. The dependencies captured by the demand forecasting model are visualized to provide insights into the demand structure.
4. Price and promotion optimization. The forecasting model is evaluated for a grid of pricing parameters, and profit-optimal prices are determined for each combination of an SKU and date.

"Through Microsoft Azure Marketplace, customers around the world can easily find, buy, and deploy partner solutions they can trust, all certified and optimized to run on Azure," said Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp. "We're happy to welcome Grid Dynamics to the growing Azure Marketplace ecosystem."

"Our new Pricing and Promotion Optimization Starter Kit builds upon Grid Dynamics' domain expertise for helping companies reduce the costs, timelines, and risks associated with the development of price management solutions without impacting the open source-based approach," said Ilya Katsov, Vice President of Technology for Grid Dynamics. "The depth and breadth of knowledge and skills embedded within our global team combined with the renowned capabilities of Microsoft Azure offers companies greater efficiencies and cost savings to help keep their businesses moving forward and positions Grid Dynamics for future growth."

Grid Dynamics' Pricing and Promotion Optimization Starter Kit was designed by revenue management experts and data scientists who specialize in price optimization solutions according to the industry's best practices. The new offering implements the reference price optimization pipeline using only open-source Python libraries and cloud-native services. Additionally, the solution can be deployed and integrated with real data sources in a matter of hours, and then evaluated and customized based on the unique requirements of the company with no proprietary or licensing costs.

Visit this page to learn more about Grid Dynamics' Pricing and Promotion Optimization Starter Kit on Microsoft Azure.

About Grid Dynamics

Grid Dynamics (Nasdaq:GDYN) is a digital-native technology services provider that accelerates growth and bolsters competitive advantage for Fortune 1000 companies. Grid Dynamics provides digital transformation consulting and implementation services in omnichannel customer experience, big data analytics, search, artificial intelligence, cloud migration, and application modernization. Grid Dynamics achieves high speed-to-market, quality, and efficiency by using technology accelerators, an agile delivery culture, and its pool of global engineering talent. Founded in 2006, Grid Dynamics is headquartered in Silicon Valley with offices across the US, Mexico, UK, Netherlands, Mexico, Switzerland, India, and Central and Eastern Europe.

To learn more about Grid Dynamics, please visit www.griddynamics.com. Follow us on Facebook, Twitter, and LinkedIn.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are not historical facts, and involve risks and uncertainties that could cause actual results of Grid Dynamics to differ materially from those expected and projected. These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include, without limitation, quotations and statements regarding product capabilities, the benefits of our affiliations with Microsoft Azure, growth of our customers and our company's future growth.

These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside Grid Dynamics' control and are difficult to predict. Factors that may cause such differences include, but are not limited to, any factors limiting product capabilities, the benefits of our affiliations with Microsoft Azure, our ability to grow our customers and our company's growth.

Grid Dynamics cautions that the foregoing list of factors is not exclusive. Grid Dynamics cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Grid Dynamics does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. Further information about factors that could materially affect Grid Dynamics, including its results of operations and financial condition, is set forth under the "Risk Factors" section of the Company's quarterly report on Form 10-Q filed November 3, 2022 and in other periodic filings Grid Dynamics makes with the SEC.

Media Contact:

Andrew Bard
Trier and Company for Grid Dynamics
917.628.8070, andrew@triercompany.com

SOURCE: Grid Dynamics

View source version on accesswire.com:
https://www.accesswire.com/730511/Grid-Dynamics-Introduces-Pricing-and-Promotion-Optimization-Starter-Kiton-Microsoft-Azure

FAQ

What is the Pricing and Promotion Optimization Starter Kit by GDYN?

The Pricing and Promotion Optimization Starter Kit is a solution developed by Grid Dynamics to help companies optimize pricing on Microsoft Azure, utilizing historical sales data and external factors.

How does the GDYN Pricing Kit benefit businesses?

The kit reduces costs, timelines, and risks in developing price management solutions while providing flexibility through an open-source approach.

What technology does GDYN's new offering leverage?

The new offering leverages Microsoft Azure along with open-source Python libraries for quicker deployment and integration.

When was the Pricing and Promotion Optimization Starter Kit announced?

The Pricing and Promotion Optimization Starter Kit was announced on December 7, 2022.

How does GDYN aim to expand its customer base?

Grid Dynamics intends to acquire new customers and engage existing ones through its new solutions tailored for application modernization and cloud migration.