Companies in search of a better, more precise method to determine the best prices for their products and to meet their margins, should harness statistical science to analyze transactions, and associated optimization algorithms to maximize revenues and profits.
Example of Analytical Thinking
all price-related variables (for example, costs, contracts, discounts, volume agreements, customizations, shipping, etc.), the total number of unique prices in the market at any one time can easily exceed 100,000. With so many products, exceptions, and changes over time, it is no wonder that such companies' price points and margins vary widely across their businesses. In fact, some B2B manufacturers and distributors struggle by merely calculating prices that are correct (that is, prices that are in