What is classification schema in SAP MP-APP-DPE - Dynamic Pricing Engine?

SAP Term: classification schema

• Component: MP-APP-DPE

• Component Name: Dynamic Pricing Engine

• Description: Distinction used by Dynamic Auction and Dynamic Bidding formerly DPE to categorize business opportunities in order to facilitate efficient searching and browsing.

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• Key Concepts: 
  A classification schema is a tool used in the SAP Dynamic Pricing Engine (DPE) to define the characteristics of a product or service. It is used to group products and services into categories, which can then be used to determine pricing and discounts. The classification schema consists of a set of attributes that are used to define the characteristics of a product or service. These attributes can include product type, size, color, material, etc. 
  
  How to use it: 
  The classification schema is used to define the characteristics of a product or service in the SAP DPE. This allows for more accurate pricing and discounts based on the characteristics of the product or service. To use the classification schema, first create a set of attributes that will be used to define the characteristics of the product or service. Then assign each attribute a value that will be used to categorize the product or service. Finally, assign each category a pricing or discount value. 
  
  Tips & Tricks: 
  When creating a classification schema, it is important to consider how each attribute will affect pricing and discounts. For example, if size is an attribute, then larger sizes may be assigned higher prices than smaller sizes. Additionally, it is important to consider how different combinations of attributes may affect pricing and discounts. For example, if color and material are both attributes, then different combinations of colors and materials may be assigned different prices or discounts. 
  
  Related Information: 
  The classification schema is just one tool available in the SAP DPE for defining pricing and discounts. Other tools include price lists, discount lists, and promotion rules. Additionally, there are other tools available in SAP for managing pricing and discounts such as condition records and pricing procedures.