Consumer Package Goods (CPG) companies have been working these problems for a long time.
How analytics is helping CPG companies drive growth
Posted by Ashish Sukhadeve
Consumer Packaged companies (CPG) are grappling with a lot of challenges owing to economic uncertainty, price consciousness, changing demographics, rise of discounters coupled with fast-changing retail needs. The growth of leading CPG players is stagnant and there is a fierce competition as a large number of small firms are venturing into the CPG and retail arena. As a result, CPG companies are realizing that deep analytical capabilities could be a key differentiator in this highly competitive space.
The use of analytical tools, data, and system integration is helping CPG companies to maximize the value of their investment and delve deeply into consumer minds. Retailers and CPG firms deal with a vast amount of data on a daily basis. The data offers a source of consumer information that can be used wisely to make strategic business decisions. A lot of CPG companies are using analytics to foster growth. Let us now see what sets these companies apart and what are the imperative for growth? ..... "