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Digonex Awarded Patent for Innovative Dynamic Pricing Technology
Digonex Technologies, Inc., an Indianapolis based software development company, announced today that it has been awarded a patent for the Digital Online Exchange (DOE), a dynamic commerce engine that systematically changes prices based upon behavioral and econometric demand marketing principles.
The patent issued yesterday covers the adjusting of price for items, online or off in a dynamic real time fashion. This includes adjusting price based on profit optimization variables that are set before the sale of an item begins and time based price adjusting.
Using a proprietary algorithm system, DOE continuously identifies the ‘sweet spot’ where prices follow perceived market value and generate the maximum economic return. DOE works for any retailer, capturing additional revenue during times of peak demand and stimulating sales once demand subsides.
According to Jan Eglen, CEO of Digonex Technologies, Inc., "DOE is unique because it optimizes profitability while giving consumers fair prices. It’s a new economic system where consumer demand sets the prices and whole catalogues are priced correctly. This is the true long tail economic system. It is a very exciting time; this patent recognizes the pioneering efforts by our dedicated technical and business staff and the support of our shareholders."
DOE is able to integrate into a variety of database setups employed by clients. Adapting to a growing market opportunity, Digonex has evolved the pricing platform into a flexible, portable technology designed to meet the growing market demand for dynamic pricing infrastructures. A technical overview of DOE can be found at www.digonex.com/Press/Digonex_Overview_Press_7_06.pdf 20.07.2006, Chris Pohl, Digonex Technologies, Inc.
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