Business analytics tools and solutions have become a necessity rather than a ‘nice to have’. It’s no secret that today’s business environment is as competitive as ever with an unsteady economy, increasing globalization and the rise of mobile devices that puts your competitors just a click away. In this challenging landscape, CPG companies are turning to big data to improve their performance. But simply having information is not enough; it’s only through having the RIGHT information and being able to pinpoint exactly what that data says about future performance that companies will find competitive advantages. Download the report for free here.
There are millions of macro and microeconomic factors that may affect your business. That’s why it’s important to understand the complete customer story and know exactly which factors are most relevant to your business performance. What do we mean by this? Most CPG companies base their plans on past performance and one or two external factors that are thought to factor into results, such as disposable income and consumer demand. In reality, though, there are several factors that influence demand that should be taken into consideration, and they vary by company, product, and even SKU.