Revenue optimisation for the FMCG industry
With margins growing ever tighter, consumer goods companies need now more than ever, to be driven by the insights hidden within their data. With the Advise solution, optimising efficiencies, effectiveness, and decisions may not be as expensive or as far away as you think
30 June 2020 | 0
For consumer goods companies, understanding the performance of their products and ranges across hundreds of stores in different retailer groups is a complex challenge. Data is available, but the signals needed are spread across a variety of disparate sources, and a large amount of manual effort is required, on an ongoing basis, to extract insight and turn it into action.
Dr. Kevin McCarthy, from RecommenderX, knows from his years of experience in artificial intelligence (AI) and analytics research that the data needed to empower better decision making within an organisation, is often locked away in databases and Excel spreadsheets.
Kevin and his team have worked with clients in the FMCG industry for several years. They talk the language of FMCG and understand the available data. Seeing the acute challenges being faced across the industry has led them to develop the Advise solution.
Advantages of Advise
• Increased revenues
• Pricing and promotion optimisation
• Reduced costs
Advise is an out-of-the-box solution, which automatically brings together consumer goods data from multiple sources to create one view of the truth. Advise provides powerful data visualisation and predictive analytics capabilities over the various point of sale, promotion, and distribution data. The team at RecommenderX configure and deploy Advise, specifically customised to each client’s needs, enabling them to make the most of their data, democratising access to all departments, and automating revenue optimisation.
Fundamentally, Advise is designed to increase sales, by offering better insights into how products are performing all the way down to an individual SKU at a specific store. Field sales teams can access all of this information at the touch of a button, either at their desks or via a mobile device when on the road. With faster and more complete access to relevant data, it is easier than ever for sales representatives to identify opportunities in the market and this guides their daily interactions with buyers and store managers.
Pricing and promotion optimisation
Back at base, category and marketing teams use Advise to track the performance of products across the market from both their own ranges and those of their competitors. Advise automatically leverages insights in the market to guide these teams in the optimisation of future promotion strategies and price points. Together, these Advise features help to better position products in the market.
Above and beyond increasing sales and optimising promotions, Advise offers significant cost savings by making all roles in the business more efficient. Advise automates the monotonous, error-prone, and time consuming action of codifying, aggregating, and maintaining category and product data. It presents insights through a range of easy to use dashboards. This frees the category and insights teams, as well as heads of departments, to focus on making informed decisions and driving change in their business.
O’Brien Fine Foods
Cooked meats specialist, O’Brien Fine Foods, recently deployed the Advise solution and it is already reaping the benefits. Advise has enabled O’Brien Fine Foods to examine the trends during Covid19 and has helped shape strategies to react to changes in shopper behaviour.
“We had been searching for a solution to integrate our various sources of data to help streamline our insights process to enable more informed and quicker business decisions,” says Stephen O’Neill, head of category and insight at O’Brien Fine Foods.
“The Advise platform gives us one view of our data, unifying the information and improving efficiencies, which means we will also realise cost savings as less time is allocated to data mining across the departments.”
One time offer
Advise is an affordable solution and the team at RecommenderX can help you, as they have helped O’Brien Fine Foods. RecommenderX is offering free proof-of-concept deployments of Advise, fully configured and deployed, for qualified companies (terms and conditions apply). Contact Kevin and the Advise team today to learn more!