The journey from siloed, backward looking to holistic, forward looking, AI augmented decision making
A group of CPG leaders and Industry experts met for a breakfast session around “transforming RoI and agility in marketing and supply-planning decisions through Artificial Intelligence" (the second in Singular Intelligence 'AI in the Consumer Goods sector' series) on Friday 16th of November, with our partner and host of the day, Microsoft.
It led to a wide ranging discussion about augmenting decision making and opportunities to grow top and bottom line results.
Alex Winch (CTO Retail and CPG at Microsoft), Sarvesh Kumar, Steve Gladwell, and Jean Littolff (from Singular Intelligence) went through the concrete application of an AI-powered platform and use cases for sales and marketing decisions (including pricing, promotions and media investment), and for supply-planning.
In a nutshell, with Singular AI system enabling the integration of all market factors and delivering predictive future scenarios, alerts, recommendations, outcomes (sales, profit and share) are continuously and significantly improved, operations are transformed, benefitting from the best AI has to offer: real-time, automation, always-on.
As the presentation prompted many other questions from the audience, we wanted to share a short extract below:
''What after we get actionable insights and recommendations?'' A discussion on business case and adoption challenges looked at factors like how AI based systems break organisational silos, inertia and enable collaboration in addition to a faster time to decision making and utilisation of data assets as a source of competitive advantage.
“How do we handle latency - delays from data generated form an event to recommendation of right actions ?” Our AI-powered solution can integrate data as soon as it is available (in real-time if needed). The fact that not all data are available at the same time and same frequency is easily handled by the Platform.
"Is it being used for pricing? Dynamic pricing? Adaptive Price promotion?” Yes, there are 4 main areas of applications: pricing, promotions, marketing investment, and supply-planning/supply-chain. As the entire data chain and predictive analytics is making a comprehensive use of data (including, yes, weather data), and as the whole process is automated and real time, it is used in dynamic pricing and adaptive promotions, whether for retail stores, or online, D2C, automated retail.
“The issue of siloed Digital Marketing measurements ( or lack of it)?” Digital marketing, in spite of the wealth of immediately available data, is still struggling with key issues: real-time actions, richness of data, attribution, and last but not least, measurement of real impact on outcomes. It is measured in isolation to other marketing factors when sales and marketing decisions should be optimised holistically.First, digital data are being integrated and harmonised in parallel to any other marketing data.How do we use Singular AI platform to provide a holistic, optimised decision making?
Our next session of 'AI in the Consumer Goods & Retail sector' series is planned in early 2019.
In the meantime, we are doing 1-1 meetings with interested companies who would like to know more, establish ROI, adoption strategies, explore where to start, Pilot and so on.Feel free to contact us : firstname.lastname@example.org
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