Advise for CPG

Consumer Packaged Goods (CPG) companies, also known as Fast Moving Consumer Goods (FMCG), sell their products through retailers around the world. As pallets of goods are sent to warehouses and distribution centers, the CPG companies lose sight of their products and it is a key challenge for them to understand the behavior of the end customers who buy their products in retail stores. To get this understanding, vast quantities of information is bought back by these CPG companies from the retailers, with this information coming primarily from point of sale systems.

Typically a category manager, salesperson, or data analyst will need to log-in to multiple data supplier portals on a monthly basis and download slices of the available data. They will then need to spend a number of hours cleansing, manipulating, and integrating the data in spreadsheet software before they can gain the understanding they need to make business decisions.

Surveys indicate that 80% of a category manager's time is spent getting data ready, with only 20% left for taking appropriate action.

Benefits of Advise

Advise for CPG is a tailored out-of-the-box solution of Advise for the CPG market. It is designed to redress this balance in three main ways:

  • Efficiency through Automation

    We codify the process of cleansing, manipulation, and integration within the Advise platform for you. Removing the manual, intensive and error-prone process that exists today. This frees up the time of your teams to focus on more valuable tasks.

  • Data Democratization

    Category Managers and Data Analysts are wasting timing answering repetitive questions and generating the same reports every month. CPG dashboards provide access to roles across your business so that everyone can get the information they need themselves.

  • Effectiveness through Decision Support

    With the product data integrated into a single view, new opportunities for empowering decisions become available. The machine learning, predictive analytics, and Next Best Action capabilities of Advise are harnessed in our forecasting and anomaly detection engines, and we work with CPG companies to identify other decisions that are taken in the business that can be supported on an ad-hoc basis.

Advise for CPG redresses the balance allowing teams to spend 80% of their time on what they do best, delivering value and positive change.

Advise Dynamic Dashboards

Advise offers out-of-the-box tailored and customized Dashboards for all your reporting needs:

  • Category Overview

    Explore an aggregated view of all products in your category.

  • Product Tracker

    Drill down into EANs to discover their performance over time.

  • Trends & Forecasts

    Track trends, monitor forecasts and review automatically detected anomalies and their explanations.

  • Sales Rankings

    Understand the positioning and movement of your products in the market.

  • Market Segmenter

    Segment the market as you like to understand relative performance and growth.

  • New Products

    Track new products that have been launched and compare and contrast performances.

  • Over & Unders

    Any metric, any filter combination, any time period, any breakdown.

All dashboards have a slice and dice capability, enabling the data to be broken down by any product metadata that is available (e.g. brand, manufacturer, segment, unit size, pack size, etc.)

Advise Predictive Analytics

Advise also offers AI-powered predictive analytics and decision support tools to improve category management efficiency:

  • Performance forecasting
  • Advise utilises the underpinning data signals and seasonal contexts to accurately predict future product performance.
  • Signal Anomalies with Explanations
  • Anomalies are automatically identified, with category managers receiving proactive alerts when they are discovered. All anomalies are explained based on their constituent contributing and dampening factors.
  • New Product Launch
  • Advise utilises historical information to make recommendations on new product launch strategy, covering factors such as store distribution, pricing and initial promotional offer.
  • Promotion Recommendation
  • Remove the guesswork from product promotion. Advise recommends promotional strategies across promotional type, store distribution and pricing to ensure the best chance of promotion success.
  • Automated Product Coding & Grouping
  • Coding product information from different sources and grouping SKUs into product groups need not be manual no more. Advise suggests coding and groups to ease the pain of product maintenance.

Advise predictive analytics tools showcase insights and recommendations and their explanations, allowing category managers to improve sales performance and increase margins.

Contact RecommenderX for a demo today or try it right now over on our playground (https://playground.recommenderx.com). We have experience working with data from a wide variety of sources for category data including Nielsen, Kantar, Dunnhumby, Symphony EYC, Talysis, BrandView and many many more. We can typically onboard your CPG data onto Advise in a matter of days.

Want to see Advise in action?

Watch our CTO, Dr. Mick Kerrigan, as he takes you on a guided tour of the Advise for Consumer Packaged Goods offering.

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Take a self-guided tour and see what Advise can do for you and your business.

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