For the sustenance of any organization, market spend analysis plays a prominent part in keeping track of the total expenditure. It delivers better visibility on the spend-related data to ensure that suppliers are providing correct pricing, rebates, and volume discounts to make agile, informed, and confident buying decisions. Market spend analysis also helps the organization to identify its spending among suppliers, compare the spending with their peers, and identify the potential suppliers in achieving diversity and sustainability in the market. Although spend analysis becomes indispensable for the efficient functioning of every organization, it is subjected to numerous challenges. One of the major challenges is the presence of diverse data source in enterprises.
Quantzig’s market spend analysis solution delivers insightful analysis into the buying behavior among the businesses. The analytics team also recommends competitive benchmarking, focuses on improved service delivery, service standards, and customer retention strategies to ensure higher customer loyalty.
The Business Challenge
A conglomerate in CPG manufacturing was facing challenges in understanding the effect of online advertisements on offline sales using data from retail clients. The client also wanted to improve their offline sales to ensure maximum reach and enhance their brand loyalty in the market.
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Quantzig’s team analyzed the information gained from various sources to leverage the power of online ads to enhance offline action and foot traffic to retail locations. By analyzing the information obtained from various sources such as sales data, account data, customer feedback, and revenue data, our analytics team developed a detailed targeting model to analyze the buying behavior patterns of businesses.
Market Spend Analysis Assessment Benefits
- Quantify returns on mobile and social initiatives
- Track brand effectiveness in driving sales
- Optimize budget allocation by channel impact
Market Spend Analysis Predictive Insights
- Enter new global markets and capture larger shares of emerging and developed markets
- Sourcing of brand equity
- Manage global supply-chain risks associated with the proliferation of counterfeiting.
- Producing cost efficiencies to offset expansion of CPG taxation