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.
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:
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.
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.
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 offers out-of-the-box tailored and customized Dashboards for all your reporting needs:
Explore an aggregated view of all products in your category.
Drill down into EANs to discover their performance over time.
Track trends, monitor forecasts and review automatically detected anomalies and their explanations.
Understand the positioning and movement of your products in the market.
Segment the market as you like to understand relative performance and growth.
Track new products that have been launched and compare and contrast performances.
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 also offers AI-powered predictive analytics and decision support tools to improve category management efficiency:
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.
Watch our CTO, Dr. Mick Kerrigan, as he takes you on a guided tour of the Advise for Consumer Packaged Goods offering.
Take a self-guided tour and see what Advise can do for you and your business.Try Advise for yourself