Optimizing Trade Promotions with Machine Learning and Analytics
- Data Science & Analytics
Consumer packaged goods companies make significant investments every year to get products and brands positioned in the marketplace to be a priority choice for shoppers and consumers. It is a key business challenge to ensure such trade investments are maximized along with significant improvements to efficiency rates and return on investments.
The Trade Promotion Analytics tool provides a view of the overall effectiveness of the promotions run in individual markets. It helps us understand if the promotions and corresponding events provide the required return on investment and increase market sales volume and value.
These insights are provided at granular levels, to enable teams to better design promotions and events to meet market objectives. This is further augmented by Advanced Analytical constructs like in-built baseline, modelled price elasticity, and inter-product/customer cannibalization to understand the effect of price changes and the unintended impact of promotions on other non-promoted products. The tool enables highly accurate decision making through predictions that more closely reflect actual outcomes. The analytics algorithms are designed to provide users’ the ability to do strategic planning across different customers and channels.
In this recorded webinar, Thorogood Data and Analytics Consultant Vidhya Selvaraj shares an overview of the Trade Promotion Analytics tool, along with business use cases and benefits.
Is it for you?
- Are you looking for solutions to reduce your trade promotion spend by a significant value?
- Do you want to assess the performance of your promotion events using analytics driven what-if scenarios?
Optimizing Trade Promotions with Machine Learning and Analytics (16 minutes)