In the past, price optimization would always have been done manually. And while it’s still possible to manage prices this way, it’s far from the best solution for most companies.
Manual price optimization leaves a company open to a range of problems, which can significantly hamper optimization efforts. These include the risks of human error and the time constraints that those managing price optimization manually will inevitably be under.
Complex price optimization algorithms can analyze huge amounts of data and make decisions based on that data at speeds that would be impossible for a human. As a result, software offers a far more efficient option for companies looking for a reliable and effective optimization solution.