What is CPG Analytics?
CPG analytics refers to the approach that uses advanced data analysis techniques and AI models to deliver actionable insights that help consumer packaged goods manufacturers to boost their growth and competitiveness.
CPG analytics can help companies in the CPG industry to make better and smart use of vast consumer data to develop a robust customer segmentation strategy. This can further help in implementing segment-specific sales and marketing strategies to improve customer experience and boost ROI.
Quantzig’s analytics experts help companies to identify the right media mix and devise the most profitable sales strategies to drive growth and efficiency. Get in touch with them right away.
Benefits of CPG Analytics
Benefit #1: Analyze Current Sales Performance in Real-Time
An agile CPG analytics solution can help companies to analyze their current sales performance in real-time that can further help them stay ahead of the competition. With the real-time analysis of current performance, companies can gain the flexibility to make changes that have an immediate impact, rather than waiting to execute a retroactive fix. Also, an in-depth analysis of marketing effectiveness and key performance indicators (KPIs) can help CPG companies to monitor the availability of products and prevent out-of-stocks scenarios.
Benefit #2: Identify Growth Opportunities and Forecast Future Performance
CPG data analytics can help companies to analyze copious amounts of structured and unstructured data to identify opportunities for future growth. Also, with the help of CPG analytics companies can gain access to useful information that can further help them in critical decision making. Companies can efficiently investigate their sales pipeline and track leads, selling stages, and the average time to close a deal by using consumer packaged goods analytics. Furthermore, CPG analytics enables companies to find changes in buying behavior, identify profitable channels, review customer journey and gauge user interests by analyzing data obtained from multiple touchpoints.
Our portfolio of CPG analytics solutions helps companies to get alerts and insights around key metrics like Must-Stock List (MSL) compliance to avoid stock out situations. Request a FREE proposal to gain in-depth insights.
Benefit #3: Adopt a Data-Driven Approach to Revenue Management
CPG analytics can help companies in the CPG industry to track a comprehensive set of key performance indicators and conduct a formal review of factors impacting sales. Also, by leveraging CPG analytics, CPG industry players can focus on deviations from trade-investment guidelines. As a result, they can adopt more stringent regulations to avoid overspending. Furthermore, CPG analytics can help in adjusting SKU portfolios and aid in gauging profitability by analyzing feedback from the customer and sales team.
Benefit #4: Improve your Marketing Strategies
CPG companies make huge investments when it comes to advertising and brand awareness to reach out to their target audience. With the help of CPG analytics solutions, companies can effectively understand their advertising effectiveness in real-time leveraging through the use of customized analytics dashboards. Consequently, businesses can maximize their return on marketing investment (ROMI). Also, companies can gain comprehensive insights into customer behavior and response to specific offerings. This can further help them to optimize their marketing campaigns and effectively use their marketing budgets.