It's easy for tech-savvy executives to get excited about Big Data and advanced analytics these days. Newly available tools allow companies to do things they couldn't do before, like recommending specific products to online buyers or mining workers' compensation claims data to recommend better treatment options for injured employees. But whiz-bang capabilities don't create real value unless an organization incorporates these new techniques into its day-to-day operations.
When executives in business-to-business markets think about pricing their products, they often raise the white flag before even stepping onto the battlefield. Over the years, they've accumulated beliefs that limit their pricing effectiveness.
Five beliefs, in particular, have become ingrained in many companies to the point that they seem immovable.