80/20 is a proven methodology for reducing complexity, which decreases costs and dramatically improves profits, but there is one area that 80/20 does not do a great job of addressing and that is pricing.
Analytics and "big data" are everywhere, but a lot of businesses struggle to find any practical use for their data. We have identified five situations in which a business needs to make use of its data and implement an analytical process.
Picture the following scene: it’s nearing year-end and company executives are immersed in high-level strategic meetings. The objective: improve company profitability in the coming year.
