Wiser's new MPI dashboard helps you analyze your pricing competitiveness at the 10,000 foot view with a powerful metric called Market Price Index (MPI). This is our proprietary metric to help you benchmark price competitiveness for a given set of SKUs.
You can drill down into brands, categories, and the various filters you've created in the Wiseboard.
How do I interpret the dashboard?
The heat map presents cells shaded with green (you're cheaper) to red (you're more expensive) in order to help you find the SKUs in your catalog where you have a strong and weak price position versus your competitor. These shades correspond to your MPI at each cell intersection:
The heat map style dashboard uses MPI to show your price position. Let's look at the very first cell, with the intersection of All Brands and REI. The value is 1.03. This means, on average (and across all of your Bands), your prices are 3% higher than REI's extracted prices.
The Market Minimum column next to each Brand/Filter/Category displays your price in relation to the lowest price point we found amongst any competitor you have enabled in your store.
If we look at the third cell over we can see the intersection of Moosejaw (competitor) and Mountain Khaki's, we can see a value of .75:
This indicates that, on average, your Mountain Khaki branded SKU's are priced 25% lower than Moosejaw's Mountain Khaki items.
By clicking on any given square, we can examine in greater detail the interaction between your Brands, Filters, and Categories across the competitors are selected in MPI. Let's click on the first square again:
Here a pop-up will emerge that gives greater details on the All Brands x REI overlap section, including all SKU's:
Here we can see the # of SKU's more expensive, # of SKU's less expense, and the # of SKU's with the same price. Each of these sections are clickable - which will open a new tab on your browser where you can view these items directly in the Wiseboard.
On the left are the rows, which you can customize as product categories, brands, and even your filters created from the Wiseboard. Toggle between Categories, Brands, and Filters on the upper right hand side of the page:
Then either All Brands, All Filters, or All Categories will appear on the lefthand column, where you can see the number of SKUs that fall under that brand/category or filter.
Simply toggle off/on which Brands, Filters, or Categories you wish to see and also the order in which they are displayed (pictured above).
Across the top are your competitors. For example, in the image below, there are enabled competitors across each columns including REI, Backcountry, DICK's Sporting Goods:
You can choose to enable which resellers you wish to see across the top columns. Simply click one, and a list of all resellers will pop up, where you can search for and select any seller you wish.