ACS has expanded its ongoing Top Pricer pricing simulation with a group of strategists from SCIP (Strategic and Competitive Intelligence Professionals).
We ran ACS’ Decision Tournament™ for pricing in conjunction with SCIP Oregon. You can see a description of the tournament along with interesting results and unique charts.
To date, 156 strategists have participated in the pricing tournament, leading to over 5,600,000 simulations (you’re right, it’s not an Excel spreadsheet) and our shocking blog post When I Was Wrong. If you would like to experience the simulation too (and, afterward, get a white paper designed for simulation participants), please write to info@whatifyourstrategy.com. It’s free, non-commercial, confidential, and fun.
(Update. As of early 2012, nearly 400 strategists have participated in the tournament.)
All 156 participants in the tournament wanted to win and thought their strategies would win. How do we know? If they didn’t think their strategies would win, they would have chosen different strategies. Nonetheless, the outcomes of their strategies varied hugely. Testing their strategies through strategy simulation — in effect, a massive business war game conducted inside a computer — helps identify which strategies do well and which do badly.
In these times of economic crisis, with the stakes so high on pricing and other decisions, there’s more need than ever before to act creatively, and to stress-test action options before risking time, money, and careers on them.
We thank Sean Campbell and Scott Swigart of Cascade Insights, who chaired and organized the SCIP Oregon meeting, for inviting ACS to conduct the simulation.