Beyond the extra time spent cleaning competitor price data, there are direct impacts of Dirty Data on your pricing journey.
In the Tire Industry, inaccurate market price analysis can happen due to many issues in the tire price data:
- A mix of tires with and without OE Marking
- Duplicates: Michelin Pilot Sport 4 vs Mich. PS4
- Inconsistent price level: unit price mixed with group prices (basket of 1 or 2 tires)
This dirty data also has a direct impact on internal projects such as delays in deploying a new process, a new tool or a new solution, but can also affect the trust and credibility in current analytical tools (Business Intelligence).
For pricing tools and platforms, dirty data will become a nightmare for data flow matching and pricing strategy implementation will be unable to deliver the expected value.
- Inexact matching between competitor price data with internal data (sell-in price data, sales volumes, etc.)
- Increase complexity in building tire comparison panels to set the pricing rules strategy
In the end, the major cost will be a potential loss of revenue and market share due to a bad price setup.