Predictive Pricing is a business strategy that entails a company or a sole proprietor making informed guesses on what prices the competitors will value their items at presently and in the near future. This allows the business entity to match or better the rivals’ prices creating an equal playing field or that much needed competitive edge. Due to the complexity of the variables involved and the huge range of products available in the market and offered by various firms, predictive pricing is in most cases performed by specialized software, predictive pricing software to be precise. The price optimization platforms allow you to track all of your rivals’ prices frequently and over a specified period of time and enable you to change your prices before your competitors do. The price tracking is based on previously collected data and other price metrics as well as on market conditions, inflation and the strength of the economy. The benefits of predictive pricing software are numerous, and any business organization should strive to incorporate use of this innovative system to maximize returns. The advantages include creating a competitive edge over all your rivals, helping a business entity to secure a substantial piece of the market share considering all other factors are kept optimal, providing accurate data in bulk in the shortest time possible as well as providing in-depth analysis and comparison of the data.