Revenue Management Strategies and Challenges in Retail Environment
Explore the world of revenue management in retail, focusing on predictive analytics, pricing strategies, and data-driven processes to maximize business goals. Discover the key challenges faced and the imperative need for analytical maturity in organizations.
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Presentation Transcript
TradeSmart TradeSmart Driving Positive Trade Spend ROI Driving Positive Trade Spend ROI November 8, 2018 MAKING MAKING REAL REAL
2 Revenue Management more than just Pricing Revenue management is the application of disciplined, integrated analytics that predict macro and micro consumer behavior, and optimize product availability and price in order to maximize business goals. Maximize Sales and/or Profit Right Product Right Consumer Right Time Adapted from https://en.wikipedia.org/wiki/Revenue_management
3 The RevMan challenge Primary Secondary Develop data-driven pricing strategies and processes that maximize business goals while driving the analytical maturity of the organization Build integrated analytics capabilities for Retail, and enable systematic Trade Promo Effectiveness for CPG Organization and its customers
TradeSmart Foundation: 1st Create The Enterprise Foundation that will support all sources TradeSmart Source Data BlueSky Integration Studio Process Control Data Foundation Consumption IRI Nielsen POS Master Data Plans COGS Shipments Baseline Other BlueSky Analytics POSmart DSR BIS Pre-designed Retailer & Integration Processes BIS Stage Conform Data Shipments Products Plans Syndicated Automated Harmonization & Integration BlueSky Analytics & PromoPro Complex Source Data Plan Improvement 27
TradeSmart Foundation: 2nd Enrich the Data to Enable Insights
6 Challenges remain Great coverage for retail other business areas (e.g.: Food service) lagging consumption data Data acquisition Human capital Time Often reactive vs. proactive Brain surgeons administering cold remedies Hard to find the unicorns
