INFOGRAPHIC: How CPGs & Retailers
Can Adapt & Grow During COVID-19
How CPGs & Retailers Can Adapt & Grow During COVID
We’ve seen 10 years of change in 1
In normal times, you risk leaving 1-2% of top line growth opportunities on the table. In today’s environment, that risk increases to 5-7%.
The right knowledge + fast analysis + business agility = success
5 Ways CPGs and Retailers Can Succeed Today
- Drive cross-functional collaboration and data sharing
Break down data silos to get a holistic view of top-line and margin growth drivers and identify demand drivers in light of recent trends.
- Recover and improve shelf presence
CPGs and retailers must stay in constant communication. Insights on consumption behavior and consumer needs will help manufacturers adjust to changing consumer demand at retail.
- Closely manage your market share
With goods flying off the shelves, consumers are participating in “free” product trials that would be difficult to generate in normal circumstances. Monitor out-of-stocks and pricing to seize opportunities to gain customers.
- Adapt to new shopping behaviors
Surveys and quantitative research can help you understand consumer motivation and provide insight into which trends, like curbside pickup and grocery delivery, may last.
- Plan for the new norm
Take a “what if” approach to plan for various plausible scenarios, leveraging data from countries that are ahead in terms of crisis management as well as past data on economic recessions.
The Digital Transformation
Digital transformation for CPGs and retailers goes beyond enabling remote workforces and enhancing digital purchasing channels. Leading CPGs and retailers are turning to augmented analytics for faster, deeper insights.
Augmented analytics = enabling technologies such as machine learning, AI, and natural language generation to assist with data preparation, insight generation, and insight explanation. The combination of these technologies augments how people explore and analyze data in analytics and BI platforms.
Analytics Workflow with AI
- Data Prep- Makes all your critical data accessible in one place
- Querying- Allows you to ask questions using plain English
- Analysis- Performs thorough analysis to answer your questions
- Visualizations- Produces optimized interactive visualizations
- Insights- Generates natural language narratives and insights to highlight key findings
Generate Proactive Brand and Category Insights
Stay on top of your business performance with around-the-clock insights. AnswerRocket is pioneering the use of augmented analytics to automate routine CPG and retail analysis . Our purpose-driven RocketBots perform analyses that typically take analysts days or weeks to complete in a matter of seconds.
- Step 1 – Gathers all the necessary data for analysis
- Step 2 – Analyzes all data combinations to assess performance and find opportunities.
- Step 3 – Surfaces timely, actionable insights to keep you informed
What Can We Automate
- Category Overviews
- Brand Health Analysis
- Market Share Analysis
- Trends Analysis