While compromise can be useful in business and throughout society, the secret to successful vigorous and measurable analytics is collaboration.
At Revenue Analytics, we have learned that collaboration is the best way to bring together people with diverse backgrounds.
Compromise is the ancient art of reaching an agreement or a settlement of a dispute by each side making concessions. By its very nature, compromise is subtractive. That is, each party gives up something to reach the compromise.
Collaboration, however, is additive, and at times can even be multiplicative. Each of the parties not only gets some of what they originally desired, but through collaborating they also create something that neither of them imagined at the beginning.
At the same time, Collaboration makes the parties vested partners in the outcome – particularly in carrying out recommendations unearthed by the analytics and explored in the collaborative process.
Collaboration is essential to what’s known as Design Thinking, a systematic methodology for creative problem solving. It was popularized by design firm IDEO and employed by Apple in the creation of products such as the mouse and iPod.
Revenue Analytics has modified this approach to design breakthrough solutions in order to solve complex Pricing and Revenue Management problems. Our methodology involves integrating business practicality, mathematically optimality, and technological feasibility to devise sustainable solutions that our clients could never predict thus providing them with an edge over the competition.
That’s why we believe Collaboration is so essential. It not only is critical to Design Thinking, but also crucial to business success. Collaboration, wielded effectively, can be a powerful mechanism in business analytics.