Content thumbnail Commercial Analytics for CP July 2014

Create insights Translate insight Build analytics while you sleep into action for consumption Firms must be able to spot changes in Firms too often underinvest in the skills they It’s often in the gap between insight and market sentiment and consumer behavior, need to move from insights to real-world action that the battle for consumer spends real-time — and even predict them before commercial decisions. One way to fix this is is won or lost. Decision-makers must be able they happen. Then they can make rapid to build central commercial analytics teams to access analytics-driven insights whenever changes to pricing or media activity, around common business issues — such and wherever they need them. Increasingly, for example. as managing revenue growth or making that won’t be when they’re sitting in front of Effective commercial analytics will generate marketing more productive. a workstation. insights that inform long-term strategy. You can then invest in training and Understand what questions commercial But firms that only “call up the data” for a knowledge management to support and analytics can answer, how those insights fit monthly or quarterly management meeting develop these teams. That will give you a into your business processes and who needs will struggle to get real value from their core commercial analytics capability — one access to them. Then invest in commercial commercial analytics. Invest in commercial that combines data expertise with a detailed analytics that deliver the right insights to analytics that are “always on” — always awareness of all the decision points that lead the right people in the way that works best looking for and flagging opportunities for to winning propositions “at the physical and for them — from mobile phones and tablets, immediate action. virtual shelf.” to wearable devices. For most companies, there’s more value in “democratizing” core analytics, so the widest number of people can access them and use them to make decisions than there is in developing next-generation analytics approaches. If your insights are locked in a Integrate data PowerPoint deck, you’ll struggle to move Build analytics for and insight with the pace today’s environment demands. consumption Transforming Case study commercial A leading global consumer products company was wrestling with monetizing the value of data and outcomes analytics across their organization. The company with analytics historically has relied on commercial analytics on pricing and trade ROI to be created by their marketing research function leveraging multiple global data Translate insight Scale analysis and and analytics providers. The insight was frequently into action insight development helpful, but the speed at which these insights were returned missed critical decision windows and didn’t allow for the current learning to be incorporated into analysis. Sales and commercial executives frequently had to defend decisions with dated analysis and the organization was losing creditability in its Create insights interactions with its customers. The client created an while you sleep analytics center of excellence and invested in scale technology along with new visualization tools to allow for the continuous creation of the analytics. They powered their sales organization with self-service analytics tools and training to change the commercial performance of their organization. Consumer Analytics | Point-of-view 5

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