You’ve probably heard it by now, data is the new oil. Organisations are increasingly turning to data and its cousin, analytics, to find actionable insights that will give them the upper hand in a competitive market.
But how to get beyond the hype as the best analytics are only as good as the decision-making process it feeds into?
Price. It may be the single most important element to impacting a customer’s decision to buy; either online or offline. Add to this the fact that markets are always changing and the need to have the right pricing strategy is more important than ever.
Love it or hate it, the emergence of price transparency has irrevocably altered the competitive landscape. In fact, you’d be hard-pressed to find a market where vendors are able to continue to rely on opacity in their pricing. Read more
Before you go shopping, do you compare the prices in different stores before finally settling with the best price? If you do, you’re really not alone. In fact, 86% of consumers actually browse through and compare the prices of products at different places before they finally make that purchase.