Business Intelligence and FMCG Glossary: #bigdataandfmcg
Big data in the world of FMCG
How is Big data in the world of FMCG?
Studying consumer patterns is already one of the main applications of advanced data analytics. Social networks – such as Facebook, Twitter, or Instagram – are a tool for brands to get to know their consumers and connect with them. Companies have also taken on the task of obtaining consumer data.
In the world of FMCG, the sell out data generated by the purchase of each product in stores is enriched thanks to the use of customer loyalty cards data that allow each ticket to be qualified. These billions of data are the fundamental raw material that allows the creation of Business Intelligence tools and boost Revenue Growth Management or Category Management processes based on the optimization of the assortment and distribution, promotional efficiency or the control of out of stocks.
Big data collection initiatives are also being developed thanks to sensors installed in commercial areas. Thanks to the information generated by these sensors, the behavior of the shopper and his shopping trip can be further qualified to improve the efficient consumer response.