An essential part of running a successful business is keeping a constant eye on the market and reacting quickly to changes. In an increasingly competitive business world, knowing about competitors' price adjustments can make the difference between success and failure. Therefore, automated market and price monitoring is becoming increasingly important.

Traditional manual monitoring of the market and constant tracking of competitor prices is tedious, time-consuming and often unreliable. Fortunately, advancing technology is enabling the development of automated solutions that help companies monitor the market more efficiently and capture changes in competitors' prices in real time.

One of the greatest benefits of automated market and price monitoring is that it enables companies to immediately detect competitor price adjustments. Through the use of specialized software and algorithms, a variety of current data sources can be analyzed, including competitors' online presences on shopping sites such as Google Shopping, or Amazon, price comparison sites, and other relevant platforms.

With the help of these automated solutions, companies receive quick notifications of competitor price adjustments, be it a price reduction or a price increase. This enables them to react appropriately to changes in the competitive environment and adjust their own pricing strategies. 

In addition, automated market and price monitoring solutions often also provide the ability to generate detailed analyses and reports. These provide valuable insights into pricing trends, competitor pricing, and the market segments in which the company operates. This information can help companies make informed decisions and optimize their sales strategies.

It is important to emphasize that automated market and price monitoring is not only relevant for large companies, but can also be of great benefit to small and medium-sized businesses. By using automated solutions, they can compete with larger competitors and strengthen their market position without having to overcommit human resources.

Which functions do copio analytics and oraya insights offer for efficient price monitoring?

By configuring the notification settings, companies can create individual groups as users of copio analytics and oraya insights and assign specific articles to them. In doing so, they have the option of specifying the time of dispatch. Notifications can either be triggered immediately as soon as a relevant deviation is detected, or in a summarized form that includes minimum and maximum prices per supplier, as well as all available price points. Notifications can be sent daily or weekly at predefined times.

In addition, companies can choose to receive the notifications as system notifications or have them sent via email. Automatic system notifications are displayed in the appropriate area of the system, while email notifications are sent to one or more pre-defined email addresses along with an .xlsx report.

In addition, these technologies enable effective filtering of results above and/or below the specified price range for each item. As a result, companies receive only relevant notifications that meet their individual requirements.

Another benefit is the predefined weekly standard report that is automatically generated and sent. This report lists the minimum and maximum prices of all sellers and products during the previous week, providing a useful overview of price developments in the market.

Thanks to advanced price monitoring technologies such as copio analytics and oraya insights, companies can ensure that they receive regular notifications of price changes from competitors. By leveraging these innovative technologies, companies can ensure that they keep their finger on the pulse of the market.

In a dynamic business world where prices and market conditions are constantly changing, rapid notification of competitor price adjustments is critical. Automating market and price monitoring enables companies to identify and respond to these changes in real time, ultimately strengthening their competitiveness and long-term success. On our website, you can view use cases that demonstrate our customers' successes with using our technologies.