Customer behaviour has never been more dynamic than in the present times. For FMCG companies understanding what makes their customers tick can ensure a steady business growth. Reports show that in spite of having a wealth of data at their disposal, FMCG companies lag behind in effectively using it to derive valuable market intelligence. This client story is a great example of how high-tech analytical tool can stimulate the growth of a FMCG company.
The Client
A leading FMCG brand with operations spanning across the globe. The client has a broad spectrum of product categories which includes more than 5000 SKUs (stock keeping unit). Being a growing mid-sized company they were constantly under financial strains. They were looking for a technology solution that could provide their sales team with sales intelligence like location wise SKU sales performance, team wise sales performance, category wise sales, marketing campaign success, and more.
The Challenge
The existing infrastructure used by their sales team was essentially run on MS Excel. Due to the scale of their operations huge volumes of data is generated and hours of manual data entry and calculations was required to create various reports. Annual or monthly comparison reports like year over year(YOY) or month over month(MOM) reports had to be created manually which was a complex, time draining and error prone process. Extracting valuable information from such voluminous data was indeed a Herculean task.
Another major issue was that their system was not accessible remotely on mobile devices. This was hindering in timely decision making. The situation become even more unfavourable during the Covid-19 pandemic as it resulted in missing opportunities, which pushed their sales turnover down the hill.
The Solution
Team Melius held detailed discussions with the client to get a clear understanding of the existing system. After a thorough analysis, our team identified the technology gaps and designed a solution that streamlined and automated the reporting system. Power BI was the preferred analytical tool as it could be easily integrated with the existing system, interactive dashboards could be customized as per the client’s requirements, no additional cost for special tech support was required and remote access was possible as it is a cloud based tool.
Our team of experts integrated the existing SQL Database to MS Power BI that enabled to create perspicacious visualization dashboards. As a result, monitoring of inventory and sales activities was accessible just a click away. With the help of a high tech reporting tool the CXO level team could now pull in category wise SKU performance reports, location wise sales reports, YOY reports, MOM reports, WOW reports and more. The project was scheduled in such a way that the testing and go-live cause minimal disruption to the client’s business operations.
The Result
The solution enabled the sales team to access customized dashboards that enabled better analysis. With the help of the right tool new intelligence was uncovered that brought about 35% boost to the annual sales. The core challenges that were addressed included:
· Elimination of manual excel data prep and data manipulation
· Access to real-time analytics tools
· Latest tech capabilities including insightful data visualization and data drill down
· Access to historical data for quick comparison
· Quick and accurate access to market intelligence
· Accurate fact based sales forecast
· Identifying marketing gaps through detailed reporting system
· Improved control and visibility of inventory
· Detailed location wise sales and inventory reports
· Streamlined location wise sales trend analysis
· Identify accurately gaps in marketing plans with the support of factual sales numbers
In Short / In Brief/ At A Glance
Client Industry:
Fast moving consumer goods(FMCG)
Business Situation:
· Huge volumes of sales data was processed manually on MS Excel
· Top management was missing valuable business insights due to absence of analytical tool
· Lack of remote access of sales reports to the employees posed a major problem during Covid-19 pandemic
· Lack of reliable system for creating annual or monthly comparison reports
The Solution:
· Integration of existing SQL Database to Power BI enabled creation of interactive dashboards
· Being cloud based, Power BI resolved the problem of remote access
Technology: MS PowerBI.
Benefits:
· Annual turnover boosted by 45%.
· Streamlined and automated the reporting system
· Access to real-time rich visualization dashboard for insightful market intelligence
· Accurate and error free reports could be generated with just a few click
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