5 imperatives for improving profitability in retail/CPG
How can analytics help boost sales during inflation?
Analytics can identify opportunities even in challenging economic conditions. By utilizing AI and machine learning, retailers can improve traditional forecasting models and increase the frequency of planning cycles. This allows businesses to respond more effectively to fluctuating demand, ultimately helping to boost revenue.
What role does customer data play in enhancing brand loyalty?
Understanding customer expectations, particularly around sustainability, is crucial for enhancing brand loyalty. A robust customer data platform, supported by analytics, enables retailers to reclaim customer data from third parties. This helps in creating personalized experiences and orchestrating optimal customer journeys, which can foster loyalty.
How can retailers accurately sense demand in today's market?
Retailers can leverage analytics to incorporate various demand signals into large-scale forecasting. This approach allows for better optimization of inventory distribution across different SKUs, locations, and channels, making it easier to respond to demand spikes and supply chain pressures.
5 imperatives for improving profitability in retail/CPG
published by Entellimetrix LLC
Entellimetrix offers a wide range of data analytics and consulting services, enabling companies and government agencies to manage and treat their data as a strategic asset to enhance enterprise value, improve profitability and meet mission goals. As a data analytics consulting firm, Entellimetrix helps clients - build modern data analytics architectures, enable machine learning and data science, and evolve to an insight-driven organization.
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