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Incorporating Predictive Analytics in your Promotions

Most companies in the consumer products industry have a diverse route to market. It involves relationships with large grocery retailers, brokers, foodservice, independent retailers, wholesalers and direct store route distribution, to name a few. The only consistent source of data is usually derived from invoice line history. However, this data does not reflect the demand signal from consumption and is distorted by the inventory policy and ordering pattern of the parties in the supply chain between the manufacturer and the consumer. Although statistical analysis of this data can be used to produce predictive models, the accuracy of these predictions is low and it is difficult to be able to reliably separate the baseline signal from the uplift signal.

The single largest barrier to implementing a “whole of business” trade promotions management and optimization project is the lack of data on which optimization and predictive models can be created. The Promax Advanced business process, closes the planning and execution loops, captures the data and continually improves the quality of the planning process.

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