Business Objective
Our client is a Fortune 50 F&B conglomerate. The client was looking for an emerging trends opportunity sizing solution that could leverage multiple data sources and help them identify key opportunities. Some of their key requirements are listed below:
- Identify emerging claims at Category x Region x Channel level and size the business opportunity
- Identify key growth drivers influencing the claims and provide model driven recommendations
Challenges
- Data challenges (trends need to be identified before any product is launched)
- Forecasting without any significant historical sales data
- Validating the forecasts with reliable secondary sources
Solution Methodology
- Leveraged Tiger Analytics’ Emerging Trend solution to fast track the overall implementation journey for our client. The solution is powered by a state of art ML model (Dynamic time warping algorithm used for comparing time-series patterns of claims). We also leverage a comprehensive set of data sources (Consumer insights, product innovation & existing sales data) for providing the most optimal prediction.
- The solution is highly scalable and can be hosted on any cloud provider. It is also a highly customizable white-box solution with no IP rights involved
The solution comes with Prebuilt components providing 30-50% acceleration in time to value. - Below are some of the key features that we delivered as part of the engagement
- Trend Identification: Identified new claims which would disrupt the industry from consumer insights data
- Opportunity Sizing: Mid to long term forecasts for trends with sales to aid in strategic planning
- Demand driver analysis: Identified and captured relative importance of each factor driving demand for the trend
- Actionable Levers: Recommended model-driven, actionable levers to realize the business opportunity
Business Impact
- Estimated an overall business opportunity of $228 Million across 3 salty snacks categories
- Recommended model-driven, actionable levers to realize the business opportunity
