The filters on the Wiseboard can be used to focus in on key categories or items of particular interest. You can save these filters for quick access on a regular basis.
In the below outline, we've broken it out in two parts:
- Creating and Applying Basic Filters
- Advanced Filtering
Creating & Applying Filters
You can access Filters within the Wiseboard by clicking here:
There are a number of other standard filters you can choose from, such as Competitor, Brand, and Price Rule:
These include targeting items by Competitor, which Repricing Rule is assigned, any Category that has been determined for an item, a Margin level on an item, and its Price Position among the competitive landscape.
These are all pre-populated filters based on information within the Wiseboard.
You can also create a filter based on multiple filters at once.
If you’d like to group all items that are: made by Brand 'The North Face', being sold by more than three competitors, and costs above $40, you will need three conditions:
- Every item that 'Brand' = 'The North Face'
- And Cost is > $40
- And It is being sold by more than 3 competitors
You will be asked to Name the Filter, at which point it will be available under the Filters list.
Similarly, you can add any number of filter parameters to target certain products based on almost any column populated within the Wiseboard.
By utilizing the filters functionality, you can apply rules or perform actions to a specific group of items.
Once a filter is created, what can you do with it?
First, you will need to click on the filter, to see only the filtered items.
- Select the Filter 'NorthFace $40 3+ Comps'
- Click the checkbox on the left-hand side above all the SKUs
From here, you can Apply Repricing Rules, Set Min/Max, and Export.
All actions will now be applied only to the filter in view. In this way, you can select a set of items through a filter, and then apply an action to only this subset of items included in the filter. These actions include applying a Repricing Rule, Exporting to CSV, Repricing, or Removing these items.
Repricing Using Filters:
It is important to note that when selecting ‘Reprice filtered items’ it will only reprice the items under the filter in view.
Note: All segmentations in Wiser are designed to be treated as filters. For example, when you click on ‘Items eligible for Price Increase/Reduction’ you can use ‘Apply on Filtered items’ and every action you take will only apply to that group.
In the above example, the '181 SKUs Eligible for Price Increase' becomes a filter. Just like with other custom filters you build, you can choose any number of Actions to apply on these filtered items, including Exporting and Repricing.
Note: The Not Competitive Filter indicates items in which the New Price Recommendation is higher than the lowest competitor's price.
Another tip for filters is to create a filter that will group a predefined label. For example, you can group all 'Carry Fwd' items by identifying products that should fall into this category in your SKU upload and then creating a filter within the Wiseboard.
So you’ve created a few basic filters like SKUs with more than 2 competitors or SKUs with low margin and competition. This next section will explain some other tips and tricks you need to take your filters to the next level in our Wiseboard.
Price position filters
These filters let you compare two different price points (current price, min price, max price, lowest and highest competitor price). Use this filter to identify SKUs that may be out of sync with your overall pricing strategy.
Pro tip: When you enable this quick filter, it will automatically return SKUs where your min price is greater than the lowest competitor price. These SKUs are typically not competitive since you have competitors selling under your floor. These are some good examples of SKUs to argue for better negotiations and costs with your vendors!
You can adjust filtering based on your own price or Min/Max Price, as well as Competitor Price.
Other great use cases include:
- Current price < min price (you’re currently priced under your floor)
- Current price > max price (you’re currently priced above your max)
- Current price > highest competitor price (you’re the highest market price)
Price variance filters
This a great filter as it lets you filter for SKUs based on the price variance to the lowest competitor price which allows you to see the biggest price differences of you compared to competitors.
Similar to other filters, Price Variance filters can be selected to target SKUs with certain thresholds, and those SKUs can subsequently be Exported, Repriced, etc.
- Positive percents indicate instances where you’re cheaper than the lowest competitor. Example: a price variance greater than 10% will return SKUs where your price is at least 10% cheaper than the market
- Negative percents indicate instances where you’re more expensive than the lowest competitor. Example: price variance less or equals -20% will return SKUs where your price is at least 20% more expensive than the lowest competitor price
Leveraging the operators ‘IN’ and ‘CONTAINS ANY'
In the custom filter logic, use the ‘IN’ logic to return a list of potential results (this is the same as using a long series of OR operators with IN in a filter).
Not sure what the exact name was? Use ‘CONTAINS ANY’ to return a list of results that contain your text (same as using a long series of OR operators with CONTAINS in a filter).