Predictive analytics can drive a business forward. And put consumers at risk when evaluating vendor pricing.
Learn about what predictive analytics is and how it is used by vendors to give them an advantage in pricing.
In addition, the author provides valuable insight into ways to ensure that your business is getting the best price possible for that valuable, yet often overlooked, company resource.
On “60 Minutes” this week, former heads of a generic drug company and Vizient, a Group Purchasing Organization (GPO), discussed how the healthcare purchasing system involving GPOs is too complicated and too broken. As one of them stated, the system is designed purposefully for a lack of transparency and to create confusion around pricing.
When the world was less standardized and more of an open market (say before 1861 when John Wanamaker introduced the price tag in Philadelphia), it was the norm for tradespeople to await the buyer’s first offer and then negotiate up. However, the subsequent swing towards an almost unified approach to stated price shifted negotiation power considerably over to the seller.
Should we be seeking a more balanced approach?
Author Raymond Augustin is a recognized thought leader, specializing in pricing strategy. He has an active interest in the research of the psychology of price and pricing motivations.
“SHOCKING FACT: The average Oracle/SAP customer pays around 22 per cent of their initial licensing price in maintenance fees annually, and 90 per cent of this fee is profit for Oracle/SAP…. That is why both Oracle and SAP are nervous about something called third-party support, a business model that replaces their official vendor support for only half the price – effectively cutting away the most profitable and stable revenue generator for both Oracle and SAP.”
This article found within “IT Pro Portal” (www.itproportal.com) highlights the benefits of using third-party support and why it is an alternative that large, formidable vendors are trying desperately to eliminate.
Check out how they are doing this and why you should still consider third-party support here in the full article.
In Part 1, G&L’s Henry Waligur talks to Scott about the current COVID-19 pandemic and the effects on not only the casino industry but hospitals as well. Scott and Henry discuss what companies are doing to adapt to the current environment and what the future of gaming may look like.