Price intelligence is about gathering, studying, and understanding pricing information to help companies make smart decisions about how much to charge for their products or services. This means looking at what other companies are charging, what trends are happening in the market, and how customers behave when prices change. By knowing all this, companies can change their prices to make the most money and stay competitive. Keeping an eye on price data helps businesses react quickly when things in the market change, which keeps them ahead of other companies. Basically, having good price information is really important for companies that want to make the best pricing strategies and do well in today's challenging market.

Obtaining pricing information requires knowing what other firms charge for comparable items, what consumers are willing to pay, and current market trends. Businesses may utilize this information to make smart pricing decisions.