Case Study

Implementing Dynamic Pricing for Improved Purchase Outcomes

25%

Streamlined Purchasing: Checkout completion times were reduced by 25%, improving the overall user experience.

40%

Automated workflows cut manual pricing updates by 40%, freeing internal teams to focus on strategic initiatives.

INDUSTRY: Pharmaceutical, Life Sciences

SOLUTION: Predictive Analytics & Dynamic Pricing Strategies

PLATFORM USE CASE: Machine learning, data engineering, microservices

CLOUD: AWS

Company Profile

The Client is a globally recognized leader in the pharmaceutical and life sciences sectors, generating over $16 billion in annual revenue across its diverse portfolio, including biologics, biosimilars, and medical devices. Operating in a fast-evolving market, their ecosystem of healthcare providers required real-time pricing solutions to enhance purchasing decisions and maintain competitive advantage.
To address these challenges, the Client partnered with DNAMIC to modernize its Pricing & Purchasing platform by leveraging predictive analytics, dynamic pricing engines, and a seamless user-focused interface.

The Challenge

The Organization faced significant challenges with their legacy pricing model, which lacked responsiveness to market fluctuations and demand variability, leading to:

Limited Responsiveness: Static pricing models failed to adapt to market dynamics, resulting in delayed updates and frustrated providers.
Inconsistent Profitability: Without real-time data insights, pricing often failed to reflect current supply-demand conditions, causing missed revenue opportunities.
Operational Inefficiencies: Manual processes and outdated workflows hindered the Organization’s ability to scale its pricing operations efficiently.

The Solution

DNAMIC delivered a comprehensive, data-driven solution to address these challenges:

Predictive Analytics Integration:

Developed machine learning models to analyze historical purchase data, seasonal trends, and external market signals.
These models enabled real-time demand forecasting, improving pricing accuracy.

Dynamic Pricing Engine:

Built a centralized dynamic pricing engine capable of real-time price updates, leveraging microservices for scalability.
Exposed APIs ensured seamless integration with the existing frontend and allowed rapid price adjustments.

Optimized Purchasing Workflows:

Refined the user interface to present tiered pricing, promotional offers, and recommended bundles.
Streamlined the checkout process, reducing unnecessary steps to improve provider satisfaction.

Real-Time Analytics Dashboards:

Designed dashboards providing live insights into price changes, purchasing trends, and provider engagement metrics.
Enabled internal teams to monitor the success of dynamic pricing strategies and make data-driven adjustments.

Results and Impact

Key Metrics Achieved:

Revenue Growth: Real-time pricing adjustments contributed to a 12% increase in revenue predictability, ensuring competitive pricing and profitability.
Enhanced Profit Margins: Dynamic pricing strategies optimized profit margins by 8%, aligning prices with demand trends.
Improved Provider Retention: Transparent pricing tiers and streamlined workflows resulted in a 15% increase in repeat purchases.

Performance Enhancements:

Reduced Processing Times: Optimized backend systems decreased pricing update latency by 30%, enabling near-instant price adjustments.
Streamlined Purchasing: Checkout completion times were reduced by 25%, improving the overall user experience.

Operational Efficiency Gains:

Automated workflows cut manual pricing updates by 40%, freeing internal teams to focus on strategic initiatives.
Comprehensive documentation and testing reduced future development cycles by 20%, supporting faster feature rollouts.

Technology Stack:

Backend: Python-based machine learning models and NodeJS.
Analytics and Monitoring: Fullstory, Segment, Datadog.

Frontend and UX: HTML5, CSS3 React.js and Chakra UI.
Databases and APIs: RESTful APIs, GraphQL, optimized caching layers.
Compliance: Continuous integration pipelines with automated quality assurance for reliability.

Future Vision

Advanced AI Capabilities:

Expand machine learning models to include personalized recommendations for providers based on their purchasing history.
Integrate AI-driven demand forecasting to further optimize inventory and pricing strategies.

Scalability:

Extend dynamic pricing strategies to global markets, ensuring compliance with regional healthcare regulations.
Enhance dashboards with predictive analytics to provide actionable insights for decision-makers.

Final Insights

By partnering with DNAMIC, the Client transformed their digital pricing platform into a real-time, data-driven solution that enhanced provider trust, operational efficiency, and revenue predictability. With dynamic pricing, automated workflows, and intuitive user experiences, the platform empowered the Organization to stay ahead in the competitive healthcare market. This collaboration underscores DNAMIC’s expertise in delivering scalable AI and data engineering solutions tailored to the unique challenges of the pharmaceutical and life sciences industries.

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Schedule a consultation with DNAMIC today to learn why healthcare and life sciences organizations
all across the US trust us to drive their AI and data transformation initiatives.

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Case Study

Implementing Dynamic Pricing for Improved Purchase Outcomes

25%

40%

Company Profile

The Challenge

The Solution

Predictive Analytics Integration:

Dynamic Pricing Engine:

Optimized Purchasing Workflows:

Real-Time Analytics Dashboards:

Results and Impact

Key Metrics Achieved:

Performance Enhancements:

Operational Efficiency Gains:

Technology Stack:

Future Vision

Advanced AI Capabilities:

Scalability:

Final Insights

RELATED CONTENT

Genomics

Unlocking Genetic Insights

Neuroscience

Mapping the Mind

Let’s Work Together

Ready to Transform Your Data Into Actionable Insights?

Schedule a consultation with DNAMIC today to learn why healthcare and life sciences organizations
all across the US trust us to drive their AI and data transformation initiatives.

Let’s Talk Data: Chat with an Expert Now.

Healthcare &
Life Sciences

Data & AI Services

About Us

Expert Insights

More Information

Social Media

Social Media

Case Study

Implementing Dynamic Pricing for Improved Purchase Outcomes

25%

40%

Company Profile

The Challenge

The Solution

Predictive Analytics Integration:

Dynamic Pricing Engine:

Optimized Purchasing Workflows:

Real-Time Analytics Dashboards:

Results and Impact

Key Metrics Achieved:

Performance Enhancements:

Operational Efficiency Gains:

Technology Stack:

Future Vision

Advanced AI Capabilities:

Scalability:

Final Insights

RELATED CONTENT

Genomics

Unlocking Genetic Insights

Neuroscience

Mapping the Mind

Let’s Work Together

Ready to Transform Your Data Into Actionable Insights?

Schedule a consultation with DNAMIC today to learn why healthcare and life sciences organizations all across the US trust us to drive their AI and data transformation initiatives. Let’s Talk Data: Chat with an Expert Now.

Healthcare & Life Sciences

Data & AI Services

About Us

Expert Insights

More Information

Social Media

Social Media

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Healthcare &
Life Sciences