The success story offers comprehensive insights into the role of advanced analytics in revenue management, challenges faced by CPG companies, and the impact of advanced analytics on business growth.
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COVID-19 has completely changed the current business landscape. As such, the road ahead for CPG companies has changed altogether. Though CPG firms have made significant advances in understanding the role of pricing in driving growth, there exists room for improvement, especially when it comes to combating the challenges in the new normal. To respond to such market disruptions arising due to pandemic outbreaks, CPG firms must act quickly and establish the foundation for the next phase.
With the ongoing advancements in data availability, computing power, and analytics, it is now possible for CPG firms to deploy robust spend analytics platforms. These platforms offer real-time insights, help identify opportunities on the go, and also help tackle maverick spending. Get your FREE customized proposal to know how Quantzig’s analytical approach to revenue growth management can help you drive sales and profit margins using the data that you already have.
Due to the continuing impact of COVID-19 globally, a CPG company faced colossal revenue loss due to the demand shifts and disruptions in the supply chain. The company collaborated with Quantzig to leverage data to identify unique revenue-generating opportunities. Quantzig’s unique approach helped them leverage spend data and deploy a platform that helped drive productivity by 57%.
Factors that prompted the CPG company to collaborate with Quantzig
New opportunity identification: Thriving in the new normal, as we know it isn't easy. Similarly, the client wanted to identify new opportunity areas that would help drive growth through new revenue streams.
Trade promotion optimization: The need to optimize trade spend was a top priority for the client.
Scenario simulation: The client wanted to simulate scenarios and analyze factors impacting the market and consumer demand.
Over the past 15 years, Quantzig has helped Fortune 500 CPG companies solve some of the most challenging business problems using a unique combination of design thinking frameworks, plug-and-play innovation accelerators, and an army of agile decision scientists. Want to know more? Contact us.
How did Quantzig’s advanced analytics solution help the CPG firm enhance revenue management?
Quantzig adopted a comprehensive four-phased approach that began with a data cleaning exercise. Using proven algorithms, the analytics team disaggregated the significant drivers of promotional performance. Revenue management generally revolves around pricing, but our experts took into account up to seven other essential factors, including seasonality, competitor promotions, and in-store execution, thereby shedding light on the most crucial performance drivers. Using these insights, the CPG client could identify the levers of consumer demand and reconcile irregularities within their system.
Besides, these benefits the analytics solution also enabled them to integrate internal and external data sets to gain better clarity on their spending patterns. Leveraging analytics also enabled the client to-
- Drive sales using product-specific pricing strategies
- Build analytics platforms to discover insights and create scenario simulations
- Enhance revenue management and establish a strong foundation for the next phase
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 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 our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal