An Imprecise Approach to Pricing

In many years of working with business teams, I have seen them spend countless hours making their pricing analyses more and more precise. More and more insights and analytics are demanded, assumptions questioned and tested, and often results are nonetheless doubted in the end. Not to mention that slow action hurts performance in many industries. I propose that the solution to this is not intuitive — to get at a higher quality answer, the prescription is ironically to be less precise and flip the analysis around to spend more of the value-added time of your decision-makers actually discussing the…