Tag: food industry analytics

big data

5 Ways Big Data and Analytics Are Revolutionizing the Food Industry

The food industry is one of the largest sectors in the industrial world. With the increase in global competition, the food industry is facing numerous challenges like reducing supply chain waste, optimizing supply chain efficiency, boosting sustainable growth, implementing green policies and finding a competitive advantage. With growing complexities, businesses in the food industry need to keep close tabs on managing product and data throughout the supply chain.

Inefficient supply chain leads to low-profit margins and more wastage. Furthermore, if the supply chain is not optimized, it can result in the inability to adapt quickly to a problem and can increase operational costs. Therefore, players in the food industry must leverage the benefits of technology like big data and analytics to gain better insights into the ability to track and monitor supply chain activities in real time.

At Quantzig, we understand that to ensure the efficiency and performance of your supply chains, from sourcing to manufacturing to delivery, optimization is required. And to help food industry businesses thrive in the competitive landscape, our team of experts has highlighted five ways in which big data and analytics can help companies in the food industry to become market leaders. 

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food safety

Is Analytics the New Protagonist for Food Safety?

Analytics is helping food producers, retailers, and restaurants to better understand customer needs and uncover important food safety and industry trends.

The food industry encompasses everything from producers and shipping companies to retailers and restaurants, making them one of the world’s largest and most important business sectors. However, with increased globalization in this sector, the tastes and preferences of customers have become more complex than ever before. Furthermore, the rising rate of food safety concerns is putting players in the food industry under constant pressure to meet the expected standards.

Analytics solutions help food industry companies with critical decision-making capabilities in the areas of pricing, product promotion, product development, and demand forecasting. This consequently results in improved product innovation, greater sales effectiveness, enhanced margins and profitability levels, extended customer reach, increased marketing ROI, and greater customer satisfaction and loyalty.

Analytics in food safety 

Reduce food recalls

The case of food recalls can cost a company millions of dollars in direct costs alone, not including lost future sales from the damaged reputation and goodwill. When factoring in medical expenses, productivity loss and mortality, the cost of such unfortunate events become higher. Despite increased regulation, the number of food recalls has continued to rise in the past couple of years. Food safety has garnered greater importance with the growing global complex food supply chain. Though regulation plays a major role, preventing future recalls require improved traceability throughout the food supply chain. The use of analytics solutions helps food companies to track production and operations, improve food traceability, and prevent contamination. Using technologies such as the Internet of Things (IoT), food companies can collect data through sensors embedded within the advanced food packaging. Furthermore, smart packaging provides real-time monitoring and management of food products frContact USom the farm to the table. Having the right data in hand is the key for food companies to stop contaminated products and prevent recalls altogether, eventually resulting in enhanced food safety.

GIS to predict foodborne pathogen

GIS refers to a computer-based tool that is highly useful in mapping and analyzing things on earth. It encompasses a combination of geographical data with attribute data (such as climate conditions, or other characteristics of a location). This technology facilitates food safety as it combines information on geographical features and attribute data that includes the characteristics/information related to a specific location to identify associations between the environment and a pathogen.

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Whole-genome sequencing in food safety

The advent of new affordable whole-genome sequencing is giving rise to a higher resolution of genomic data. Whole genome sequencing has the power to differentiate virtually any strain of pathogens. This capability was lacking in previous techniques such as pulsed-field gel electrophoresis (PFGE). Genomic data is being generated in order to track and trace foodborne illnesses across different food sources, food-manufacturing facilities and clinical cases. With today’s increasingly global food supply and the fact that food products are often multi-ingredient, such robust tools are integral to ensure food safety. They can track food contamination quickly and remove any contaminated food products from the food supply and ensure food safety.


Know more about Quantzig’ s analytics solutions for the food industry in ensuring food safety

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food processing

The Ever-Growing Food Processing Industry: A Result of Technology and Innovation

The food processing industry is one of the rapidly growing industries globally and it is nearly impossible that this industry will encounter a decline in the near future. Food processing has been going on since pre-historic days. Earlier, fermenting, slaughtering, and preserving foods with salt wereContact US some common methods in practice. But the late nineteenth century was the era when this industry started evolving with the advent of innovation and technology like canning, artificial sweeteners, freeze drying, and preservatives. Then came the era of frozen foods such as TV dinners, which became readily available in all the supermarkets. But before we move on to the analysis of this industry, let’s take a brief hiatus to understand food processing a bit.

What does food processing mean?

Food processing can be defined as a new world encyclopedia that comprises of techniques and methods to transform raw materials into food or raw food or into other forms that are fit for consumption by humans and animals. This industry basically deals with harvested crops, slaughtered animal products, and produces them in a very attractive form. These processed foods are easily marketable and have a long-life.

Benefits of food processing

  • PreservationGet More Info
  • Marketing of food
  • Distribution
  • Protection from pathogens and other toxic elements
  • Easy to prepare

At the same time, processed foods have a few drawbacks too like loss of essential nutrients and the impact of additives.

Food Processing Industry Analysis

#1. The food processing industry is one of the sectors that loosely tracks demographic trends like income and population growth.

#2. Companies in this industry generate revenue from the sale of food and ingredients to lots of customers, ranging from restaurants to supermarket chains.

#3. This industry is appreciated for its ability to deliver positive investment returns consistently and countries like India are expecting to cross $540 billion by 2020 in the food processing industry.

#4. In the past 20 years, this industry has delivered high single-digit annual total retuRequest Proposalrns with very less volatility than the broader market indexes.

#5. Companies in this industry have several defensive characteristics like constant growth, solid balance sheet, and ample interest coverage, which establishes them as “safe harbor” selections during stock market and major economic downturns.

#7. There is a variety of different machinery including cutting and forming machines, automated ovens, mixers and blending machines, sortation equipment, wrapping equipment and filling equipment, which evidently proves that for this industry, automation has become critical to address the required levels of production speed, quality control, overall profitability and labor shortages.


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food industry

Food Retail Client Leveraged Marketing Mix Optimization to Improve Budgetary Decisions

Food retail

LONDON: Quantzig, a global analytics services provider, has recently completed their latest marketing mix optimization solution for a retail food client. Food retail is one of the most dynamic and fast-paced sectors with several players venturing into this market. The food retail space is a strong contributor to fueling economic growth and development of the economy. They also contribute to the rise in per capita income, improved infrastructure, and growing consumerism.

“Marketing mix optimization solutions help food retailcompanies in measuring the impact of marketing tactics on sales. Furthermore, these solutions help food retail firms in developing marketing mix models to understand and access the incremental value of their investments.” says an industry expert from Quantzig.

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The marketing mix optimization solution helped the client to determine the past impact of various marketing channels on revenues and provided insights to reallocate resources to form an optimum marketing mix model. The solution also helped the food retail client to allocate their marketing budget efficiently among various marketing channels.

Additional Benefits of Marketing Mix Optimization

  • Gain more accurate insights on the ROI of their marketing investments
  • Drive improvements in the marketing effectiveness.
  • To know more, request a free proposal

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Supply chain

Why is it Important to Have an Effective Supply Chain and Logistics Process in the Food Industry?

The food industry is one of the key sectors that are highly dependent on an efficient supply chain and logistics process since they deal in highly perishable items. Today, materials in the food industry are sourced from different parts of the world in most cases. Therefore, an efficient supply chain and logistics facility that ensures the timely delivery of materials is critical. Due to such factors, food manufacturing players face quite a lot of supply chain challenges. Wonder what they are?Free demo

Quality preservation

The quality of food largely depends on the manufacturer or the producer, but the supply chain and logistics also play an unavoidable role in it. The perishable food materials need to be stored at controlled temperatures and protected from extreme conditions to avoid any deterioration in the quality of the product. The food industry being highly sensitive in nature must ensure at all times that they do not compromise with the quality at any point.

Avoid damages and breakages

Food and dairy products have a high chance of breakage and damage during transportation due to their soft and delicate nature. Many products such as eggs or ice-creams can become extremely useless in case they have been damaged or broken in transit. Therefore, special care must be taken during packaging, loading, unloading, and transporting such food materials.

Climate controlled facilities

Raw materials, as well as processed food, have to be stored at controlled temperatures during and after transportation to avoid perishability. An efficient supply chain and logistics facility ensures that the food products are stored at optimum temperatures at all times to maintain their freshness and quality.

Avoid deterioration

Several food items such as tomatoes, cucumber, and banana, etc. when stored in controlled temperatures go bad quickly. Also, in the case of processed food, they cannot be consumed after a particular expiry date. Therefore, a supply chain and logistics system that ensures that food products reach their final consumers within a stipulated period of time will help companies prevent deterioration of products and loss of money and resources.


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food

Food from Thought – Big Data Revolution in the Food Industry

The food industry across the world is facing an interesting challenge. The world population is constantly on the rise whereas agricultural land is on a steep decline due to urbanization. To tackle such problems, key players in the food industry are resorting to vertical farming, genetic engineering, and most importantly big data. The explosion of data Free demoin the field of agriculture and food processing regarding seed type, soil type, climate, and other agri-supply chain data can help drive decision making, which, in turn, can transform the value chain of the food industry. Here’s a look at how big data can bring about a revolution in the food industry.

Precision Agriculture

The advent of GPS and GNSS technology has enabled precise location tracking of field maps to measure variables such as crop yield, terrain topography, organic matter content, and moisture levels. Such data helps the farmers in effective water management, waste minimization, crop yield increment, and minimizing environmental impact. The data captured from thousands of tractors on farms across the world can then be collected and analyzed in real-time.

Accurate Information and Forecasts

The food industry depends on accurate forecasts and right information to maximize crop yield. Integrating information relating to soil, weather, and market prices with granular data can provide inputs to optimize the agricultural input factors. Additionally, optimizing the agricultural input factors increases the crop yield, optimizes resource usage, and lowers cost.

Food Safety and Traceability

Big data is set to change the landscape of the food industry by enhancing food safety and traceability. Big data along with IoT proactively monitors the condition of food right from the farm to fork and sends out an alert when discrepancies are found. As a result, consumers are always assured of the food quality and food wastages are minimized.

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