Advanced Analytics for the Consumer Packaged Goods (CPG) Industry

[Razvan]

At Keyrus we pride ourselves on helping our clients turn insight into value. Data Science is a hot topic and we’re constantly finding new ways to apply cutting edge analytical techniques to help our clients gain a competitive advantage.

The Consumer Packaged Goods (CPG) industry is a highly competitive environment: companies are often forced to compete for market share on increasingly crowded supermarket shelves with increasingly tight margins and quality requirements. Understanding how product sales correlate amongst brands or predicting whether a particular store will face an out-of-stock scenario could mean the difference between hitting sales quotas for the month, or ending up in the red and falling behind the competition. Analysts need to be empowered to be able to provide the necessary business insights to the sales team to ensure the rate of sale is maintained in all relevant regions and channels.

Alteryx is a fantastic light-weight data science platform that gives CPG analysts the power to apply some of the most advanced statistical and predictive algorithms to their data workflows. For example, consider the open question of whether a particular product on the shelf influences the sale of another. Using some of Alteryx’s built-in statistical tools, we can quickly see which brand-sales correlate with one another. Brands that sell well together should be on the shelf for consumers to purchase!

Using some of Alteryx’s advanced forecasting capabilities, we can easily predict whether a store will face an out-of-stock situation. We need only model the sold-in volume and the corresponding depletions of stock to identify, at a very granular level, stores who are at risk for not having enough product on the shelves.

Identifying this risk is of paramount importance in the CPG industry.

Lastly, the ability to easily embed some of the most advanced predictive algorithms into data workflows gives analysts the ability to take their organizations to the next level and affect organizational transformation through data analytics. Here, these advanced classification algorithms are used to identify how likely consumers are to buy a particular product online during promotional offerings. If a customer is not likely to buy the product, then perhaps some last minute advertising or incentivizing can sway their opinion.

This year at Inspire, Keyrus is offering free Management Discovery Sessions for Alteryx customers and prospects. Learn about our latest generation of machine learning and predictive techniques in plain English and how data science can give you a competitive advantage.

Sign up at the Keyrus Booth in San Diego!