Food Retail Industry Overview
Owing to the rapid pace of technological advancements and the ongoing digital shift, the food retail industry is witnessing a phase of tremendous disruption. To thrive in this complex business scenario, players in the food retail industry need specific analytics tools at their disposal to keep a tab on their sales performance and cater to the dynamic shifts in consumer needs and preferences. Sales analytics solutions such as sales analysis and forecasting can empower retail businesses to gain relevant insights into sales performance and profitability. Also, it can help retailers to understand in-depth the performance of their sales teams and marketing initiatives along with the effectiveness of their sales channels.
At Quantzig, we understand the need to deploy robust sales analysis and forecasting solutions to tackle the challenges that arise in today’s complex retail business landscapes. Our customizable sales analytics solutions have helped several players across industries. This success story is a classic example of our sales analytics capabilities.
Quantzig’s sales analytics experts help companies to build a unified view of sales data using a sales analytics dashboard to arrive at the right sales decision. Get in touch with them right away.
The client is a well-known packaged food retailer having its operation spread across Stockholm and Gothenburg. The client approached Quantzig to leverage its expertise in offering advanced sales analytics solutions that would help them improve the accuracy of their sales analysis and forecasting methods. Also, the client wanted to improve the effectiveness of their marketing campaigns and optimize their store layout to boost and profitability across their business units.
Problem Statement 1
Due to the lack of a proper tracking mechanism, the client was finding it difficult to track their buying cycles. As a result, they were not able to align their marketing strategy with the sales cycles. Hence, they wanted to leverage sales analysis and forecasting solution to formulate an effective business model and monitor their sales performance.
Problem Statement 2
The second challenge that the client faced revolved around those arising due to inaccurate data analysis techniques. Hence, they wanted to use machine learning algorithms to maximize the value of their sales data and draw useful insights from sales analytics dashboard in real-time.
Problem Statement 3
The third challenge of the client revolved around analyzing historical sales data to identify relationships between products and customers. This roadblock prevented them from creating products and pricing models to generate new revenue.
Our portfolio of sales analytics solutions enables organizations to leverage sales data to analyze win/loss scenarios and optimize the sales cycle. Request a FREE proposal to gain in-depth insights.
Solutions Offered and Value Delivered
The client approached Quantzig to leverage its expertise in offering sales analytics solutions to help them improve the accuracy of their sales analysis and forecasting methods.
The initial phase of the sales analysis and forecasting engagement revolved around a detailed analysis of the client’s sales data to help them track their sales performance in real-time.
The second phase of this sales analysis and forecasting engagement involved the creation of ETL processes for the initial and incremental data loads along with a scalable BI architecture to help the client maximize their sales forecast accuracy for entire products’ lifecycle and modernize their sales processes.
In the third and the final phase of the sales analysis and forecasting engagement, the sales analytics experts focused on building sales analytics dashboards that visualized predicted results and could compare present sales data with previous years’ data to offer valuable insights to the client that helped them improve their marketing strategies.
Right from sales forecasting to operational planning and sales force effectiveness, we’ve got you covered with our comprehensive portfolio of sales analytics solutions. Request a FREE demo to learn more.
- Improved sales data analysis and forecasting significantly
- Reduced the error percentage is forecast by 53%
- Increased quarterly sales by 47%