How do you determine the optimal discount for a specific deal?

When we are determining the optimal discount for a specific deal, we look at similar deals that have been sold in the past. 

The model looks at previous deals sold to similar types of customers buying similar types of products. 

The way we determine similar deals is based on how your business wants to define it. It is configurable to your needs. We generally define similarity as  deals involving similar products sold to similar sized customers. 

The range of discounting across both closed-won and closed-lost deals allows us to create benchmarks we can use to evaluate the appropriate level of discount. 

In effect, our model is programmatically calculating price elasticity on every single deal. 

We then provide those insights to the sales rep and sales manager to show them whether the discount they're considering is in line with what peers and colleagues have been able to secure in the past. 

All the data we use is pulled from your own internal systems and then analyzed through our sophisticated econometric model to give you a recommendation.