--- title: Unfair Prices? Just Blame it on Your Data description: "Unfairness is a great issue for pricers: but new research shows that customers are much more forgiving towards data-backed pricing decisions." image: https://blog.pricebeam.com/hubfs/Blog/pexels-photo-159888.jpeg --- [Skip to content](https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data#main-content) [![PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/lead-flow-images/PBLogoTransparent%20(1).png?width=400&height=100&name=PBLogoTransparent%20(1).png)](https://www.pricebeam.com/) - Solutions ![RGM360](https://blog.pricebeam.com/hs-fs/hubfs/RGM360_Headlines.png?width=319&height=255&name=RGM360_Headlines.png)[PriceBeam RGM360](https://www.pricebeam.com/rgm360) is an end-to-end Revenue Optimization Platform, offering unmatched value by integrating market research, internal data with AI and next-generation simulation and optimization tools. 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Just Blame it on Your Data ![Picture of PriceBeam](https://blog.pricebeam.com/hs-fs/hubfs/Images/PBLogoBadge240x240.png?width=50&name=PBLogoBadge240x240.png)   PriceBeam  ·  1 minute read ![pexels-photo-159888.jpeg](https://blog.pricebeam.com/hs-fs/hubfs/Blog/pexels-photo-159888.jpeg?width=1024&name=pexels-photo-159888.jpeg) With the rapid advancement in data science and pricing analytics, it's no longer a question of *how *to personalize prices for different buyers based on their willingness to pay: the only barrier is the *unfairness perception *that arises, which will make your customers hate your guts. However, a recent study by Forrester Consulting shows that 78% of UK consumers think science-based pricing is fair: as long as the price is determined by a computer, there are no hard feelings. Granted, this is not the same as saying that 78% of consumers will be fine with price discrimination as long as it's based on data and performed by a computer, but it is interesting to see how accustomed consumers have become to advanced technology, and almost accept that businesses apply algorithms that are much smarter than the customer. At the same time, the majority of the respondents indicated that they would find such pricing unfair if it was executed by an individual (e.g. the store manager) rather than a computer. In this case, it's no longer just an objective, data-based assessment -- it's personal! The store manager has screened the customer and made his own decision; and that's frowned upon. There are several reasons for why you should use data to set your prices -- it's far more accurate, gives you higher profits, and keeps your firm sustainable. And now, it seems that your customers will be much more understanding if your pricing decisions are based on data rather than your personal judgment and gutfeel. **Source: **[http://www.fierceretail.com/technology/78-consumers-okay-data-determining-pricing](http://www.fierceretail.com/technology/78-consumers-okay-data-determining-pricing) [![New Call-to-action](https://no-cache.hubspot.com/cta/default/2519095/e3c780f6-d41e-430c-bef7-668d315a0b20.png)](https://cta-redirect.hubspot.com/cta/redirect/2519095/e3c780f6-d41e-430c-bef7-668d315a0b20) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data) [twitter icon](https://twitter.com/intent/tweet?url=https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data) [envelope icon](mailto:?body=https://blog.pricebeam.com/unfair-prices-just-blame-it-on-your-data) ## Related posts [![Psychological Concept - Profile of Head with Cogwheel Gear Mechanism on the Brick and Plastered Wall.](https://blog.pricebeam.com/hubfs/Stock%20images/Psychological%20Concept%20-%20Profile%20of%20Head%20with%20Cogwheel%20Gear%20Mechanism%20on%20the%20Brick%20and%20Plastered%20Wall..jpeg)](https://blog.pricebeam.com/7-psychological-pricing-strategies) [Pricing Psychology](https://blog.pricebeam.com/topic/pricing-psychology) #### [7 Psychological Pricing Strategies](https://blog.pricebeam.com/7-psychological-pricing-strategies) [![pexels-photo-264636.jpeg](https://blog.pricebeam.com/hubfs/Blog/pexels-photo-264636.jpeg)](https://blog.pricebeam.com/demand-based-supermarket-pricing-is-wasteless-the-right-strategy) #### [Demand-Based Supermarket Pricing: Is ‘Wasteless’ the Right Strategy?](https://blog.pricebeam.com/demand-based-supermarket-pricing-is-wasteless-the-right-strategy) [![](https://blog.pricebeam.com/hubfs/Untitled%20Design%20copy%20copy%20copy%20copy%20copy%20copy%20copy%20copy.png)](https://blog.pricebeam.com/impact_pricing_book_review) [pricing books](https://blog.pricebeam.com/topic/pricing-books) #### [Book Review - Impact Pricing: Your Blueprint for Driving Profits](https://blog.pricebeam.com/impact_pricing_book_review) **Pricing Right, Made Easy** Almost all companies struggle to price right. 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