|[Demand for data analytics in FMCG]|
Consumers Business questions:
- Where are your consumers?
- Can you identify the characteristics that bond your consumers to the brands they buy? Can you segment your consumers using those characteristics and create a consumer purchase decision tree?
- Can you access and translate the sentiment that your customers are saying about your company, your products and your customer service?
- Can you share data with your retail and convenience store customers on a regular basis?
R & D Business questions:
- How do you ensure a new product meets our standards for safety, packaging or transportation?
- Are you able to bring together all the data from your experimental tests and evaluate the results?
- How can you quickly understand if a concept has already been patented and how will that impact our potential patents?
Marketing Business questions:
- Can you analyse the effectiveness of each product?
- How do you evaluate consumer research to truly understand the impact of a new product? Can you predict where your marketing spend will provide the best return on investment?
- Can you predict future performance over the life-cycle of your brands?
- How price-sensitive are your consumers? How price sensitive are your products?
- How loyal are your consumers? What will make them switch to another brand and what is the threshold for switching?
- What are the purchase attractors for your brands? How are these changing over time and how will they map against the changing demographics of your consumers?
- Do you understand which marketing strategies your consumers respond to best?
- Can you optimise your marketing spend across the marketing mix to drive profitable volume growth and revenue?
Sales Business Questions:
- Can you optimise your trade plan in order to meet your business objectives?
- How accurate are your demand forecasts and how easy are they to manage?
- How much time do you spend forecasting?
- Are you constantly trying to resolve internal forecasting conflicts? Are personal agendas contaminating what should be an ‘unbiased best guess’ at what is really going to happen?
- Do you know what influences demand?
- Can you gauge the impact of price changes and promotions and new product launches on demand?
- Can you sense demand signals other than trend and seasonality (eg. price, sales promotions, marketing events, advertising, in-store merchandising), and then shape demand using ‘what-if’ analysis?
- How do you decide what the promotions should look like?
- Can you understand the overall ‘cost to serve’ for each customer?
- If a customer starts a SKU rationalisation programme, would you know which products could be sacrificed without affecting profitablity?
- Do you know how much space should be allocated to each product at the point of sale and where they should be positioned on the fixture?
Production Business questions:
- What measures are there to ensure quality assurance throughout production?
- Is your production process optimised to deliver against demand? Is it integrated with the forecasting process to avoid over- / under-production?
- Can you identify production process costs throughout?
- How do you manage and predict asset maintenance to ensure minimal production ‘downtime’?
- How do you optimise human capital against production demands?
- Can you accurately plan production to avoid over-/under-production?
Logistics Business questions:
- How do you optimise distribution channels, case size, packing and truck loading?
- Are shortcomings in your forecasting capabilities impacting warehouse space and workforce planning?
- Can you identify excess costs within the process?
- Can you optimise routes and transport methods to meet customer SLAs?
- Are you adhering to your corporate sustainability programme?
- How do you minimise the cost to serve a customer?