Market Price Monitoring System

Romanian consumers looking for the lowest prices on particular goods can turn to the Food Products and Fuel Price Monitor. The application, built with M.App Enterprise technology and implemented at the national level by the Romanian Competition Council, allows consumers to compare prices at nearby stores.

The monitor displays information on approximately 30,000 products sold in more than 1,700 stores. The application also monitors fuel prices.

While the platform was originally launched to increase competition in Romania, it has proven especially useful in the pandemic era. It helps consumers go directly to the store that has the product they need at the best price, minimizing the need to get out of the house amid semi-lockdown conditions.

Using the price monitoring solution, the Competition Council had near real-time data on grocery price fluctuations, which helped Romanian authorities make informed decisions. According to Bogdan Chirțoiu, president of the Competition Council, the possibility of freezing prices was discussed, but the council feared it would do more harm than good.

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Source: www.monitorulpreturilor.ro

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Source: https://play.google.com/store/apps/details?id=ro.ingr.pmonand&hl=ro&gl=US

The prices of products on the shelves are reported daily by vendors, who can submit data in an automated way. The system then cleans, processes and analyzes the data. With more than 3,000 new data entries per day, the Food Price Monitor handled more than a billion records in less than a year.

One of the system’s key differentiators is that it allows data to be inserted without an existing relationship. A price comparison happens as soon as a product with a matching bar code appears at at least two suppliers. Mapping between products can be done anytime, not just when products are uploaded.

With M.App Enterprise Feature Analyzer, the geospatial system enables advanced analytics regarding gas infrastructure, retail coverage, or even the searches that the users of the application make.

Check out this video regarding the coverage and isochrones in Feature Analyzer:

In addition, multiple datasets can now be added and managed on the fly with the M.App Enterprise 2021 release. The Food Products and Fuel Price Monitor is just one real-world example of how M.App Enterprise empowers users to monitor, evaluate, and act with ease.