12 Ways Business Intelligence Can Help Your FMCG Organization
Organizations generate colossal amounts of data every day. However, only a handful of them are able to harvest useful information. Why only a handful, because these organizations follow a business intelligence strategy that harnesses knowledge. Enterprises and organizations that are able to integrate a business intelligence strategy have a competitive advantage. Such enterprises do not focus only on traditional reporting and/or analytics but on predictive analytics to deliver robust products and top-line. For today’s enterprises and organizations, hunches and experience, that mid and senior level management brought to the table, have been replaced with logical frameworks and business strategies.
If yours is a business that competes in the Fast-Moving Consumer Goods (FMCG) industry, you are facing a constant challenge of expanding portfolios, ensuring regulation compliance, reporting requirements, and managing a multifaceted supply chain that has distinct requirements. Unlike the other industries, the FMCG industry relies heavily on accurate and prompt market research, which can be used to run effective marketing campaigns. Along with these, any enterprise in this industry needs a well-organized distribution network coupled with an effective sales force to implement strategies and be intelligent enough to iterate quickly if targets are not met.
What are the major changes in the FMCG industry?
The FMCG industry has evolved greatly. With the average income of working professionals increasing the craving that customers have towards global products has increased tremendously. Due to this appetite, the consumer is in a position to demand for not just global products but quality ones as well. Read full article on acuvate.com