Better decisions across the FMCG value chain has been saved
Better decisions across the FMCG value chain
FMCG Analytics Framework: how to use consumer data best
The world is changing rapidly and dramatically, due to the rise and exponential growth of new technologies and changing consumer expectations. How can Fast Moving Consumer Goods (FMCG) companies and Consumer Products companies cope with these key trends – and even benefit from them?
Patrick Schunck & Frank Korf - 13 february 2017
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- Request the framework
- Advanced data analytics
- Web analytics: is a website adjusted to consumers’ needs?
- Competitor Intelligence and trade promotion
- Manufacturing and Logistics
Communicating with end consumers
Over the years, direct communications with end consumers has become essential for Fast Moving Consumer Goods (FMCG) companies and Consumer Products companies. On the one hand, consumers demand more product information, both from a health perspective and a responsibility and sustainability point of view. They want full clarity about how products are sourced (e.g. no child labor involved), and what they contain. On the other hand, FMCG companies feel the need to customize and personalize their products, so they are collecting as much data as they can – including data about retailers’ sales.
FMCG Analytics Framework
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Advanced data analytics
Still, data offers so many more opportunities than most organizations are aware of. Of course, topics such as pricing strategy are well known, but their maturity could be improved dramatically by using advanced data analytics. For any aspect of Marketing & Sales, Manufacturing, Logistics, and Business Management and Support, whether it’s brand analysis or production planning, the possibilities are vast. Advanced data analytics combines all the available consumer data, internal and external (e.g. from retailers), structured and unstructured (e.g. from social media), rendering deep insights into the market.
Web analytics: is a website adjusted to consumers’ needs?
Deloitte has developed the FMCG Analytics Framework, which offers an overview of all business aspects that can be improved by analytics. In the field of Marketing & Sales, FMCG companies can benefit from e.g. Digital Analytics (or Web Analytics). How well is an FMCG website adjusted to consumers’ needs? For instance, we helped a global food company that wanted to undergo a digital transformation, but had hardly any tools to measure and compare digital performance across countries. We supported them in e.g. extracting web analytics data and requesting in-market data about online market share from the countries.
Competitor Intelligence and trade promotion
Other important areas for advanced data analytics within Marketing & Sales are e.g. Competitor Intelligence and Trade Promotion Effectiveness. Competitor Intelligence offers an overall view of the market positioning on individual product or category level. By combining internal data on sales and external data such as competitor pricing and positioning, opportunities to improve the market positioning vis-à-vis competitors are revealed which directly impact revenues. Trade Promotion Effectiveness focuses on evaluating the success of promotions and the drivers behind it. Additionally, the trade promotion planning is evaluated by closely monitoring the trade promotion spend, discounts and resulting sales increases.
Manufacturing and Logistics
In the field of Manufacturing, Asset Analytics can be used in advance to indicate when certain assets in the manufacturing process may need maintenance. For instance, for a certain FMCG company millions of products were continuously being produced and shipped to distribution centres around the globe. In order to improve the coverages and meet the set targets, the company needed insight into the drivers that most influence the coverage and eventually also the delivery in full and on time. We performed a detailed data analysis and extracted key insights, such as: good coverage is usually caused by slack in factory performance.
Better decisions across the value chain
Of course, these are only a few examples of all the options within the FMCG Analytics Framework. We haven’t even discussed advanced data analytics for Business Management & Support, with e.g. Workforce Analytics and Finance Analytics. As a recognized leader in Analytics, with extensive experience in FMCG, we understand your challenges as well as the current and future analytics market, and we can offer advanced analytics solutions in any field, combining internal, external, structured and unstructured data, deep industry knowledge, and developing complex algorithms to enable better decisions across the FMCG value chain.
More information on FMCG Analytics
You can request the Fast Moving Consumer Goods Analytics Framework. Do you want to know more on FMCG Analytics? Please contact Patrick Schunck at +31 882881671 or Frank Korf at +31 882885911 or via the contact details below.