The FMCG industry has evolved greatly. With the average income of working professionals increasing, the craving that customers have towards global products has increased tremendously. Due to this appetite, the consumer is in a position to demand for not just global products but quality ones as well. It is safe to say that the industry has witnessed an explosion of products along with a diversification of markets as well. This phenomenon has increased: innovation, entry of new players, and process capabilities of industry players. Bottlenecks caused by external and internal issues have caused the industry in general to suffer. Therefore, to adapt to these blockages, enterprises have tried to adopt various tactics but to no avail.
What Does a Business Intelligence Strategy Solve for Your Enterprise?
It helps in increasing top line revenue and saving costs at the same time by:
- Improved sales forecasting.
- Identifying lost opportunities.
- Identifying new segments to target.
- Optimizing spend, based on the BCG Matrix.
- Bettering your marketing and sales strategies.
- Determining the ROI for your marketing strategy.
- Identifying ROI on the shelf expenditure for individual retailer.
- Ensuring you spend right amount at right place at the right time.
- Understanding your market share and competitor performances better.
- Providing insights to determine the best promotional strategies which yield maximum results.
- Helping you analyze the performance of new product launches relative to other compete products.
- Increasing sales by improving operational efficiencies by driving better OTIF and MSL compliance.
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