IT cost transparency
Imagine you and your friend both want to buy a toy from a store. You both have some money in your pockets but you don't know how much the toy costs. So, you go to the store and ask the seller, "Hey, how much does this toy cost?" The seller says, "I can't tell you, it's a secret."
Now you and your friend are confused and don't know how much money you need to buy the toy. This is what we call "no cost transparency." You don't know what the price of the toy is, and you can't make a good decision about whether or not to buy it.
Cost transparency is when the seller tells you how much something costs. This way, you and your friend can decide if you want to buy it or not based on the price. This is important because it helps you make good decisions with your money.
Companies use cost transparency to tell their customers how much they charge for their products or services. This way, customers can compare prices and make informed decisions about what to buy. When companies are transparent about their costs, it helps build trust with their customers and shows that they value honesty and openness.
Now you and your friend are confused and don't know how much money you need to buy the toy. This is what we call "no cost transparency." You don't know what the price of the toy is, and you can't make a good decision about whether or not to buy it.
Cost transparency is when the seller tells you how much something costs. This way, you and your friend can decide if you want to buy it or not based on the price. This is important because it helps you make good decisions with your money.
Companies use cost transparency to tell their customers how much they charge for their products or services. This way, customers can compare prices and make informed decisions about what to buy. When companies are transparent about their costs, it helps build trust with their customers and shows that they value honesty and openness.