Turn your grocery retail data into business intelligence
Grocery retail data is indispensable for making informed decisions that will benefit a CPG's performance. But working with this type of data can be difficult and require extensive investments in terms of time and energy. For those in the field of data analysis and business intelligence, collecting and analysing your data to understand trading performance can be an immensely taxing process.
- Every day someone has to go to a retail portal and manually download the reports, which can lead to discrepancies or irregularities in the data. For most CPGs, this labour-intensive task takes up an estimated two weeks per year for each retailer.
- Collecting information from different sources results in considerable disparities between datasets, making it hard to both standardise and analyse. As soon as you expand beyond ePOS, the different data fields, metrics, product and location codes lead to an explosion in complexity as you add more retailers.
- Retailer data can give an in-depth view on the Flow-of-Goods (FoG), appropriate for understanding sales, wastage, and stock at individual stores. Without the right tools though, it's practically unmanageable to form a cohesive, complete picture. This makes it challenging for analysts to get to the core of problems, since they're forced to start from scratch with each successive query
- Retail data is accessible daily, yet many CPGs still favour a weekly schedule. This can be attributed to the reasons mentioned above. Still, due to outdated, aggregated or fragmented data, this choice inevitably hampers the organisations' ability to make the best possible decisions.
Adam will also illustrate how data and business insights experts from major UK CPG companies have utilised SKUtrak DataShare to streamline their processes. His examples touch on using trading data for more dynamic promotional planning and measuring as well as automating feeds into ePOS trackers, SAP and trade management tools. Creating access and sharing insights to support third parties in the supply chain, like field sales, will also be explained.