Inteko carried out a digital transformation of pricing

2021: Implementation of automated pricing system

On November 18, 2021, the Inteko group, with the help of Innodata, carried out a digital transformation of pricing and introduced a large product and analytical block. This was announced by Innodata on November 18, 2021.

Inteko thought about creating a digitalization tool for pricing processes and market analytics in order to clearly respond to changes in its environment and contribute to a high-tech approach in the formation of prices for objects - apartments, parking, storage rooms and non-residential premises.

The company decided to deploy an automated information system of dynamic pricing. By introducing such a solution, INTECO would receive a number of advantages in the fight for the client. The company would significantly reduce the reaction time to new introductions about prices, multiples the number of parameters analyzed and the ability to index pricing on a more frequent regular basis, giving it more flexibility.

The management of INTECO identified four reference points in the digital transformation of pricing in the company.

• Objective, proactive and reliable analysis of the real estate market.
  • Creating a Single Real Estate Market Grocery Base

• An efficient, flexible and transparent process for determining the starting price and indexing real estate prices.
  • Efficiency of decisions made by increasing the number of analyzed parameters.

• Transparent native analytics of plan execution and sales pace to make the right management decisions.

The best solution to this ambitious task was offered by Innodata, a Russian system integrator and digital conductor in key segments of the Russian economy, which presented its own development to the developer. Its feature is the use of machine learning technology (or Machine Learning) to work with Big Data in terms of predicting the probability of selling an apartment. The very cost of a real estate object is calculated based on the business rules of the company and competitive indicators and is amenable to mathematical analysis. Therefore, the process of forming the value of a real estate object becomes completely transparent.

A feature of the system in INTECO is its division into two integrated modules: a pricing module and an analytical and product module, "said Alexander Sergienko, executive director of Innodata. - the latter involves more than 50 dashboards showing the state of the real estate market, collected from several external systems and internal sources. This module in principle has no analogues.

{{quote 'The main difference between this product and analogues in the market is land parcel evaluation blocks (for best-use analysis); product block, collecting all information on residential complexes from facade materials/TEPs to articles in the decoration of apartments and MOPs; as well as an analytical block that covers all the needs of the market analytics business, "said Polina Balashova, Director of Analytics and Pricing at INTECO. }}

The digital approach to pricing now guarantees INTECO and its customers an objective assessment of the errors caused by the "human factor" during massive calculations. The company has solved an important internal task: the process of indexing prices and determining the starting price is not now labor-intensive, because the execution time and necessary resources with the help of digitalization are radically reduced.

The automated dynamic pricing system from Innodata has been fully commissioned by INTECO. According to the most modest forecasts, the project contributes in the medium term to an increase in the developer's revenue by 2.5% - 3.5% from one housing complex.

The partners plan to further develop the system and replicate it to the regional business.