Industry:

Ecommerce/Retail

Country:

Portugal

Company:

Prio is the largest producer of biofuels in Portugal. More than 250 service stations are operated by the company, under the commercial brands Prio and Shell, both in Portugal and Spain. In order to supply its biodiesel plant, Prio uses residual raw materials from sectors as diverse as margarine production, sauces, olive oil, and coffee.

0.5% revenue growth achieved by optimizing pricing strategy through AI.

CRM Integration

Solution

AI as a Service

Achievement

0,5%​

Increase in revenue derived from improved pricing strategy​

Prio Achivements using AI in Customer Service

Main Achivements

  • >90% More accuracy vs. the previous solution​
  • Lead time 4 weeks – Faster than alternative data science approach​

The challenge

  • Prio needed a solution to optimize its pricing strategy radically​. ​
  • The main objective is to determine optimal retail pricing as a function of competitors & margins​.​

The solution

  • We deployed Automated Data Prep & Time Series Forecasting to ​help Prio predict competitor retail pricing at a local level.​
  • The output is used to automatically optimize the pricing strategy​

PRIO’s project got some coverage in the media:

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Industry

Ecommerce/Retail

0.5% revenue growth achieved by optimizing pricing strategy through AI.

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