A Success Story
A Full Spectrum Sales Planning Solution Using Data Science for a Major Multinational Food Manufacturer
Bardess developed and implemented a data science initiative aimed at using forecasting to optimize sales promotions to maximize revenue at minimal cost.
The client wanted to extract the maximum value from their data and came to Bardess, already a trusted partner, for ideas. Working collaboratively to review their data and business pain points, Bardess discovered that their approach to sales planning was proving to be sub-optimal and inflexible.
THE BARDESS SOLUTION
Bardess proposed and implemented, under the Bardess Solution, a full spectrum sales planning solution using state-of-the-art ML-based forecasting software, TIM by Tangent Works. The tool’s high accuracy and rapid speed made it possible to automate the building of forecasting models for thousands of product SKUs and thousands of stores, using historical sales data and promotion schedules as inputs. An interactive BI application was then developed, allowing sales planners not only to visualize the forecasting results, but to enter their promotion schedules, and see the effect on the predictions.
VALUE & BENEFITS
Developing a promotion plan is a difficult problem. This data-driven solution enabled sales planners to allocate promotions over time optimally, effectively reducing prices to drive sales resulting in an increase in overall revenue while reducing costs.