LONDON--(BUSINESS WIRE)--The growing concern over food wastage has led food manufacturers to adopt a data driven approach, paired with retail and supply chain analytics to eliminate or at least curb the food waste levels across the globe. Waste products ultimately pile up in combustion facilities or landfills which facilitates the emission of greenhouse gases, climatic changes, and depletion of scarce non-renewable resources.
In their recent analysis titled ‘Stopping Wastage of Food with Analytics- New Twist to an Age-Old Problem’, global analytics and advisory firm Quantzig evaluates some of the ways manufacturers are using big data analytics to check the wastage levels of food.
“Analytics can determine business problems, benchmark performance metrics and implement the best practices across the organization, improving efficiency and driving profitability. This analysis can help the organization to procure sustainability and profitability in the company’s operations,” says Quantzig’s big data analytics experts.
For more insights, get in touch with Quantzig’s analytics solutions experts
In terms of cost optimization, the growing concern about the increasing wastage of food items has led governments to levy various statutory compliance standards, which manufacturers must adhere to. Countries like Italy and France have passed legislations that ban supermarkets and grocery stores from throwing away unsold food and ordered them to donate it to food banks and charities.
There are many ways in which big data can decrease the amount of food wastages and many companies are already using it for cost optimization purposes. With the growing number of bodies which generate waste and a need to optimize costs, analytics is becoming an essential part of operating successfully in the market.
Quantzig Food and Beverage Analytics Portfolio
Quantzig has worked with hundreds of companies in the food and beverage industry, helping them drive business value with optimal pricing, targeted promotions, and accurate demand planning. With the growing consumer complexity, food and beverage companies have started facing challenges while monitoring the performance of various categories and are increasingly turning to analytics to solve industry adversities. Quantzig’s recent food and beverage analytics studies include:
Using the Market Mix Model to Target Millennials for F&B Manufacturers
View study: https://www.quantzig.com/pressrelease/market-mix-model-assessment-millennials-become-major-target-audience-food-beverage-manufacturers
Using Big Data Analytics to Help Fast Food Chains Improve
Cross-Selling and Up-Selling
View study: https://www.quantzig.com/content/fast-food-chain-improves-cross-selling-and-selling-products-through-big-data-analytics
Improving ROI Through Customer Behaviour Analytics for Consumer Food
View study: https://www.quantzig.com/content/consumer-food-products-manufacturer-improves-marketing-roi-through-customer-behavior
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.