Delivering Growth, Simplifying Planning
After completing the first phase of their customized AI recommendation platform, it’s projected that the client will realize:
A 3% uptick in incremental revenue
2-3% higher incidence rates
4% consumption value growth across categories
Not only has this tool become indispensable to the client’s sales team, who use it to craft tailored pitches for each account, it’s also become a key part of sales leaders’ annual sales planning process.
Deep Neural Nets, Collaborative Filtering, and Ensemble Models Enhance Results
Essentially, this AI-driven analytics solution is tasked with making smarter product and assortment recommendations, which includes:
- Uncovering optimal assortment by DMA, chain, or outlet.
- Identifying chain and outlet opportunities by SKU.
- Maximizing beverage sales opportunities for existing foodservice customers.
- Being scalable across all channels and use cases.
A typical use case sees a sales team member inputting the geographic location (nation, region, market, postal code), sub-channel, chain or franchise group, and the current assortment into the user-friendly interface. Under the hood, the analytics engine processes multiple data sets, runs segmentation, recommendation, and volume prediction APIs, and then further refines the results by likelihood of purchase and other SKU and category recommendation drivers.
Forging a New Path
Thanks to these advanced AI capabilities, this global beverage company has granular insights into the needs of their foodservice customers. With more information available to them, sales team leaders can make optimized strategic decisions, reps can make more effective pitches, and can simplify their decision-making process. This tool hasn’t just invigorated the foodservice sales division of a major company, it’s increased the technical capabilities available to decision-makers.