Business Intelligence

CPG companies prosper with the right application of predictive analytics

By August 2, 2017 No Comments

The world of consumer packaged goods is a large and diverse one, with giant international companies and smaller but still competitive businesses offering a variety of product types and price points. The effectiveness and efficiency of everything from product development to distribution, marketing and customer engagement plays an increasingly important role in success, a significant shift for a very established industry.

How can organizations in the consumer packaged goods industry adapt to a marketplace where competitors are becoming more agile and capable? Predictive analytics, deployed through the powerful IBM Cognos suite of solutions, can be the answer.

More effective operations across your business

“Predictive analytics gives companies tools for widespread improvement and success.”

Predictive analytics builds on decades of efforts by businesses in all sectors of the economy to learn more about the details of their operations, whether to make process improvements, enhance forecasting or for a variety of other reasons. By effectively harnessing the large amounts of data generated by a business, related to everything from the acquisition of raw materials to purchasing and sales trends, effective analysis drives positive change.

For companies in the CPG world specifically, using predictive analytics can mean developing better relationships with customers. Progressive Grocer highlighted how the right application of this powerful force can help businesses get closer to the people that buy their products. Through improved forecasting, a deeper understanding of purchasing trends, demographic breakdowns, what-if simulations and other advantages, organizations can develop a better understanding of past efforts and create a more prosperous future.

Ultimately, predictive analytics provide a deeper understanding of both your company’s processes and the customers who purchase products. By fine-tuning a variety of workflows, supply chain models and marketing and engagement efforts, businesses can derive a holistic benefit that does more than target a specific component of the business. Predictive analytics gives companies tools for far more widespread improvement and success.

Aviana’s experience helping CPG companies successfully implement predictive analytics solutions means we understand the unique aspects of the industry. With that knowledge in hand, alongside a strong grasp of the IBM Cognos suite of predictive analytics solutions, we’re confident in our ability to help companies succeed in such a competitive and saturated market. To learn more about our strategy for the CPG world, visit our dedicated industry page.

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