Improving the use of, and access to data has become a priority for most businesses in and out of the CPG sector. For most CPG marketers, the amounts of data under review are reaching unmanageable levels. Common uses of data for Trade Promotion Optimization (TPO) are:
- Who to incrementally invest with for maximum return
- What are the optimal merchandising tactics/discounts
- Where to adjust merchandising tactics due to poor performance
- When to anticipate a large volume spike
T-Pro Analytics offers TPO software and data integration to allow CPG customers the ability to implement a state of the art TPO solution in just a few months. The pricing is competitive, and the return on investment is realized within months, not years.
Typically CPG data is retrieved and analyzed in batches, by specific clients. These batch runs can take hours, if not days to compute. T-Pro Analytics software solves the immediacy issue by ensuring that all of the incoming data flows in a continuous stream, like a pipeline of information, as opposed to a static view. In real-time, companies can change prices (e.g., Turkey shortages for Thanksgiving) or pick the best deal to show a customer (such as Netflix suggested titles) by providing actionable insights based on historical data. In turn, those insights get fed back into the pipeline, as a forecast, making the whole system a little bit smarter the next time.
In effect, T-Pro Analytics turns data into a form of embedded business intelligence, so you can react to events faster, and know and see what is happening. Accuracy is increased, with historical baselines and Lift Coefficients that incorporate multiple data sources.
The idea of using data in real-time streams and integrating it into useful collaborative information predates T-Pro. However, in practice the execution of meaningful predictive analytics has been limited to a handful of CPG manufacturers. T-Pro has seen early customer adoption, and these use cases have been able to attain meaningful changes toward optimizing their customer promotions.
One of the advantages is that implementing the software creates an infrastructure, whereas traditional solutions apply more of a “single-use” or tactical approach. By integrating the underlying data, in effect, T-Pro Analytics integrates across all pertinent business intelligence silos, like supply, manufacturing, marketing, and sales. The user-friendly reporting dashboards allow for everyone to get on the same page, create client specific analysis, and make meaningful insights and recommendations. In effect, the role of business analyst moves away from spreadsheet wizard, data-monger and macro-investigator, to that of a knowledge worker who provides promotional calendars, collaboration insights and negotiation insights. Accordingly, the organization realizes the benefits of improved responsiveness to changing markets and consumer demand. Contact us today to learn more about T-Pro Analytics and for a short demonstration.
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