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Deloitte Polaris

Pricing that unlocks smart value creation

Of all the levers that can help drive profitable growth, pricing may be the most direct. Today’s pricing leaders drive value through specificity, granularity and a bias for action. But achieving that leadership is easier said than done. When companies don’t manage pricing, they can lose value—and can’t even be certain how much or where from.

Polaris, a pricing analytics solution available either on-site or by online subscription, helps businesses in targeted sectors drive high-value pricing performance. It combines proprietary algorithms, sector-specific data models and predictive analytics to harness the power of information for helping to make smarter, faster decisions that bring innovation to pricing.

The intersection of analytics and real-world experience

Many organizations find they spend more time accumulating data than they do analyzing it or putting it to use. Polaris can connect the dots in real time, so pricing decisions don’t only make sense on paper—they actually make a difference.

Every implementation of Polaris is built specifically for the user’s own industry sector, so there’s no need to translate the models, workflows, or views from a generic standard into a usable form. Moreover, Polaris is pre-configured for users at multiple levels of the organization. Executives and managers have specific dashboards customized to the decisions they make every day. Across the business, users can use Polaris to keep their individual pricing actions aligned with each other and with a coherent company-wide strategy.

With command like this, pricing decision makers can aim higher than merely avoiding lost revenue opportunity. They can use pricing as a source of innovation to create many new sources of value.

Bottom-line benefits

Polaris distils the knowledge Deloitte has learned through years of experience and hundreds of real-world projects. The result is more agile, effective decision making that helps drive smarter pricing and profitability at many levels—without the need to build new analytics capabilities from scratch. After a startup period, companies can choose to keep using Polaris on an online subscription basis, to host it internally with ongoing Deloitte support, or to take it in-house and have Deloitte train their people to run the system.

  • Specificity. The market is flooded with generic pricing approaches that typically fail because they tend to lack relevancy for industry-specific questions. Polaris has industry-specific configurations that draw on our experience in each industry to customize the views and analysis within the tool. Furthermore, decision workflows are designed for each industry to provide and structure the exact information a user needs to make decisions—no more and no less.
  • Granularity. Data proliferation is a blessing and curse. There is no shortage of data to use to analyze pricing, but many solutions fall short because they can’t structure that data to provide actionable insights that improve pricing outcomes. Polaris allows decision makers to zero in on the information that matters most—to extract the insights that relate directly to measurable value—and to put it all to work quickly.
  • Bias for Action. Good pricing policy often means nothing without faithful execution. That means delivering the right information in the right form to the right people at the right time. Polaris offers structure with flexibility—so decision-makers have the ability to respond to market conditions, but remain within a defined overall strategy. The system’s preconfigured dynamic views, dashboards and decision workflows help decision-makers navigate and drill down to the specific pricing levers they should pull to improve pricing and profitability.

As a managed, on-demand solution customized for selected industries and sectors, Polaris can give companies the best of both worlds: time-tested tools and technology without the challenges and costs of application management and maintenance. And the ultimate bottom-line benefit is the bottom line itself. When pricing is data-driven, disciplined and agile, companies can extract the value from what they do and find new, innovative ways to realize value they didn’t see before.

Download the PDF here.

Contact us

Ranjit Singh
Principal
Deloitte Consulting LLP
ransingh@deloitte.com
Manish Prabhu
Senior Manager
Deloitte Consulting LLP
mprabhu@deloitte.com

Rich Nanda
Principal
Deloitte Consulting LLP
rnanda@deloitte.com

Bill Lloyd
Specialist Leader
Deloitte Consulting LLP
williamlloyd@deloitte.com

Ed Johnson
Senior Manager
Deloitte Consulting LLP
edwjohnson@deloitte.com
 

 

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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