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The effectiveness of strategic or tactical decision-making largely depends on the quality of the analytics underlying it. Pricing is one of the key strategic areas of management that can be fatal when decisions are based on less than high quality information. For example, a pricer may fail by not knowing how different segments of the customer base respond to price increases at any point in time. The more exact information the pricer possesses, the better pricing decisions are made.
The effectiveness of strategic or tactical decision-making largely depends on the quality of the analytics underlying it. Pricing is one of the key strategic areas of management that can be fatal when decisions are based on less than high quality information. For example, a pricer may fail by not knowing how different segments of the customer base respond to price increases at any point in time. The more exact information the pricer possesses, the better pricing decisions are made.
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