How Well Does Your Pricing Organization Learn From the Field?

Unlock latent potential with price experimentation

With every price quote or posted price, there is an opportunity to learn about the market, and in turn, improve pricing. Yet, a tremendous amount of the information is not captured, systemized or utilized, neither by people in pricing nor the algorithms they employ. The potential in learning from the untapped sources of field information can be tremendous.

Read More

Tariffs: Fighter Pilot Strategies Businesses Can’t Afford to Ignore

Pricing teams that rely on Excel models and manual processes can be overwhelmed with the challenge of optimizing price as tariffs whipsaw cost. An Excel-based response can feel like “bringing a knife to a gun-fight.” Many companies have finite opportunities to change their price in any given year placing even greater weight on the right “weapon” in their pricing arsenal. Therefore, the biggest questions for pricing teams and senior leadership in B2B companies right now are how can we create an effective response swiftly, how can we ensure that the response is consistent with our broader pricing strategy, and how do we safeguard limited opportunities to change prices?

Read More

Behavioral Economics Powered by Machine Learning and AI Techniques

A true path to optimized pricing

There is a growing focus among pricing practitioners to use price science to drive pricing decisions. It’s a fabulous trend with many recent innovations in the use of advanced techniques such as machine learning and AI. It is important however to consider behavioral economics because our economic decision making is often shockingly irrational. Naturally, we are not referring to your personal decisions, dear reader, because you are always rational, right?

Read More