A majority of executives say their companies don't have the tools they need to make smart decisions about pricing, according to a survey by Accenture. Meanwhile, 70% of respondents said their companies don't have a clear pricing strategy. "What companies have to do is really understand what people do or don't value. That requires a very specific level of analytics and a rigorous ability to execute," says Greg Cudahy, a managing director at Accenture.

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