What are the responsibilities and job description for the Pricing Analyst position at Radwell International?
Who We Are :
At Radwell , we’ve been shaping a brighter future for industry for over 45 years . As a global leader in Automation , MRO (Maintenance, Repair, and Operations) and E lectrical solutions, we’re committed to providing top-notch services to our customers. We help customers maximize their uptime and performance, supplying new and pre-owned parts, including obsolete and hard-to-find items. Additionally, our sophisticated repair technicians can repair customers ’ parts and get those back into production quickly. Radwell is a global business with locations throughout the United States, Canada, Mexico, and Europe. Come challenge yourself and be a part of our rapid growth story.
The position is full-time and will be based at our Chicago-area location in Downers Grove, IL .
Job Overview :
We are seeking a highly analytical and results-driven Pricing Analyst to join our team. In this role, you will be responsible for leveraging data science, advanced analytics, and machine learning techniques to develop and optimize pricing strategies that maximize profitability, improve market competitiveness, and align with business objectives . The ideal candidate will have a strong background in statistical modeling, economics, and pricing optimization, and be able to communicate complex findings to non-technical stakeholders.
Key Responsibilities :
Pricing Strategy and Optimization : Design and implement data-driven pricing strategies that align with the company's revenue and profit goals, taking into account market conditions, customer behavior, and competitor pricing. Build in- house price optimization engine applying machine learning and optimization techniques to determine optimal pricing and discounting strategies for products and services .
Data Analysis & Insights : Analyze large (sometimes messy and incomplete) datasets, including sales, customer, and market data, to uncover insights and trends that can inform pricing decisions. Build and maintain pricing models to forecast demand elasticity, optimize price points, and identify opportunities for margin improvement.
Competitive Intelligence : Monitor competitor pricing, market trends, and industry benchmarks to inform pricing models and strategy. Provide recommendations based on competitive analysis and customer segmentation.
Collaboration : Work closely with cross-functional teams such as Marketing, Product, and Finance to ensure pricing strategies are aligned with overall business objectives and market positioning.
Reporting & Presentation : Prepare and present pricing analysis, insights, and recommendations to senior management and key stakeholders, ensuring that data-driven decisions are easily understood and actionable.
Continuous Improvement : Stay current with developments in data science, machine learning, and pricing methodologies. Continuously assess the performance of pricing strategies and iterate based on feedback and market conditions.
Qualifications : Education :
Bachelor's degree in Economics , Statistics, Mathematics, Data Science, Business, or a related field ( Master's or Ph.D. is a plus).
Experience :
1 years of experience in analytics , pricing science, revenue management, or a similar analytical role.
Proven experience with pricing models, pricing optimization techniques, and demand forecasting.
Familiarity with machine learning, regression models, and statistical analysis in the context of pricing.
Skills & Competencies :
Strong proficiency in data analysis tools and languages (e.g., SQL, Python, R, Excel, etc.).
Solid understanding of pricing strategies, elasticity, segmentation, and competitive analysis.
Ability to interpret complex data and translate it into actionable pricing recommendations.
Strong problem-solving skills and a creative, data-driven mindset.
Excellent communication and presentation skills, with the ability to explain technical findings to non-technical stakeholders.
Required Skills
Required Experience
