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Nutritional Products Company Improves Financial Health with Test and Learn Program
Technology Category
- Analytics & Modeling - Predictive Analytics
- Analytics & Modeling - Data Mining
- Analytics & Modeling - Machine Learning
Applicable Industries
- Consumer Goods
- Retail
Applicable Functions
- Sales & Marketing
- Business Operation
Services
- Data Science Services
- System Integration
The Challenge
The company wanted a simple way to measure the revenue lift, margin impact, and effectiveness of promotional campaigns before they were rolled out nationwide. They relied on historical campaign performance to select future promotions, which limited their ability to understand initial campaign performance before making significant investments. The company tasked Antuit with developing an analytics-powered solution to measure the impact of promotional campaigns, planogram changes, and other marketing initiatives before rolling them out nationally.
About The Customer
A leading nutritional products company that leverages a robust promotional program including price reductions, coupons, and distribution of samples to health care professionals. The company sought to improve its promotional strategies and overall financial health by better understanding the impact of its marketing initiatives. They partnered with Antuit, a global analytics solutions provider, to develop a more data-driven approach to their promotional campaigns. Antuit specializes in serving the retail & eCommerce, consumer products, and manufacturing & logistics industries, combining deep domain expertise with proprietary solutions and technologies like machine learning and AI.
The Solution
Antuit established a 'Test And Learn' program to incorporate predictive analytics into the company's decision-making processes for marketing initiatives. Using a wide range of internal and third-party data, such as demographic profiles, volume, seasonality, historical sales numbers, and weather data, Antuit helped identify suitable test and control participants and regions. Matching test and control markets was critical to yield the most accurate metrics. In cases where an appropriate control market did not exist, Antuit created a 'pseudo-control' using an accurate base forecast to replicate a relevant control market. Through the program, Antuit enabled the company to measure revenue lifts as small as 0.1% with good statistical confidence, an especially powerful capability for products with razor-thin margins. The results have been used to make better decisions regarding when, where, and how promotions should be rolled out across regions, markets, and retail distributors.
Operational Impact
Quantitative Benefit
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