Analytics in Action: PricingBringing additional precision to pricing |
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It’s widely known that changes to a pricing strategy can bring benefits with a relatively small amount of effort. On the other hand, the wrong moves in pricing can have an equally outsized effect. Which is why so many companies leave pricing untouched--even when they know a new approach may be needed. For them, pricing is an unknown and as long as it’s not completely broken, they feel that they can work around any pricing inefficiencies. As a result, they are likely leaving a lot of value on the table.
It doesn’t have to be that way – especially when companies are generating valuable data that could be used to guide their pricing efforts. Pricing analytics can complement the wisdom and experience of sales teams, partners and others, from transaction-level analyses and behavioral segmentation to logarithmic- or regression-based price analyses. For business leaders who are concerned that their pricing strategy is overly reactive and speculative, employing pricing analytics can be an effective new development. And Deloitte can help you put it to work today, bringing our leading pricing capabilities together with a deep analytics bench. Not only do we know pricing and analytics, we know business. And that can make all the difference.
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Raise your pricing IQ New Pricing and Profitability Management leader Ranjit Singh gives his take on using analytics to raise an organization’s pricing IQ.? |
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Do Something About it For multinational manufacturers, the links between strategy, business activities, and enterprise value can be unclear. Can pricing analytics help? |
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Mining for insight Pricing analytics can help companies better examine their customers, products, and marketplace dynamics to help improve their growth and profitability. |
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Pricing and Profitability Management: A practical guide for business leaders Explore all the resources about the book. |
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Pricing and Profitability Management: A lever worth pulling Tune into this episode of Deloitte Insights to learn more about how companies can increase profitability through an effective pricing strategy. |
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Julie Meehan, Principal, Deloitte Consulting LLP
Mike Simonetto, Principal, Deloitte Consulting LLP
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