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Digital technologies have opened the door for distribution leaders to achieve dramatic improvements in productivity and create compelling customer experiences. Many leaders are leveraging digital tools as a foundation for continuous improvement and some are hoping to go much further by innovating the traditional distributor business model. Either way, the adoption of digital tools is prompting leaders to focus on strengthening their companys abilities to remain competitive and lead.

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With advances in tools and technologies to help mine larger and larger available datasets, algorithms are increasingly used across many business functions. However, if not managed appropriately, too much of a good thing can backfire. This was the message of a recent Wall Street Journal report by Deloitte, On the Boards Agenda: Board Oversight of Algorithmic Risk. This article, the first of a two-part series by Lee Nyari, examines the dangers that Deloitte outlines in its report and offers distributors some solutions for reducing algorithmic risk in price management.

This article includes:

  • Pricing as a useful and powerful business lever in distribution
  • Why pricing algorithms may be insufficiently market-informed
  • Updating approaches for developing pricing algorithms

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