Business Objective
Our client is a Fortune 50 F&B conglomerate. The client was looking for an emerging trends identification 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
