Visualfabriq – Consumer Goods Technology Magazine, November 2018.
The thought leadership of visualfabriq’s CEO, Jaco Brussé is showcased in the CGTech Tips feature of the latest edition of Consumer Goods Technology (CGT) Magazine. Jaco provides his top three tips for CPG companies aiming to embrace latest technologies and achieve winning trade promotions. CGT is a global media business providing relevant business and tech content to the CG industry through its print and digital publications.
There is increasing momentum in CPG companies across the world as the realisation sets in that companies cannot keep doing trade promotions the same-old way. All the ways that trade promotions have been traditionally planned, managed and optimised need to be transformed to meet the demands of modern consumers and ensure ROI.
According to Jaco, this transformation is not possible while the CPG industry lags behind others in its uptake of latest technologies, especially Artificial Intelligence (AI) and machine learning.
“It is these very technologies that are enabling visualfabriq clients to plan their best promotions ever in just a matter of minutes. Thanks to applied AI, all the possible options for each promotion can be reliably evaluated for return on investment.”
“Our clients finally have the real insights that they have always needed right at their fingertips. They are empowered to make better data-driven decisions, to collaborate more effectively with retailers and to deliver winning promotions that drive actual business growth. They can do all this with incredible agility, speed and efficiency because 80% of the work is automated.”
In summary, Jaco’s 3 CGTech Tips are:
1. Look forward, not backwards
Companies which harness the full power of their data are empowered to look forward by using insights and prediction models during the actual promotion proposal and negotiating proces.
2. Take the integrated view of the trade channel profitability and reliably explore alternative strategies
Winning trade promotions become the norm at CPG companies which have transformed into process-led organizations, entirely aligned around end-to-end processes and making data-driven decisions based on a single version of the truth based on their customer metrics.
3. Trust the machine
Powered by solutions with applied Artificial Intelligence (AI) and machine learning, leading CPG companies have reliable ways of predicting scenarios and understanding ROI for each individual promotion during its planning. Developments in AI and machine learning have led to prediction models that outperform human estimations by 20 to 30 percent in forecast accuracy and can directly compare scenarios.
Download the full article here: CGT Tech Tips Visualfabriq (pdf)