Situation

Our client is a Fortune 100 company in the food service sector. It needed to find the optimal product recommendations for existing products and products they were about to launch.

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Our client needed to identify gaps for each category, brand, and SKU.

It also needed to quickly recognize and close on any growth opportunities by identifying potential sales gaps for any category, brand, or SKU, from the regional level all the way down to the outlet level.

But instead of leveraging IOT, consumption, demographics, traffic, and other data, their Strategy team optimized product mixes manually based on outdated conjoint survey and sales data. This created response times and incurred high costs for the company.

Action

We combined deep neural nets, collaborative filtering, and ensemble models to create an AI-driven analytics solution that helps our client make smarter product and assortment recommendations. This solution ingests data from disparate sources, including shipments, sales, consumption, IOT, survey, demographics, and store data.

The AI engine processes multiple data sets; runs segmentation, recommendation, and volume prediction APIs; and then further refines the results by likelihood of purchase and other SKU and category recommendation drivers. It’s also scalable across all channels and use cases.

Now sales team members can input geographic location (nation, region, market, postal code), sub-channel, chain or franchise group, and the current product assortment, and the solution will:

  • Uncover optimal assortment by designated market area (DMA), chain, or outlet.
  • Identify chain and outlet opportunities by SKU.
  • Maximize beverage sales opportunities for existing customers.

Results

  • This tool hasn’t just invigorated the foodservice sales division of a major company, it’s increased the technical capabilities available to decision-makers.
  • Now our client has granular insight into customer needs so sales leaders can optimize decisions and reps can make better pitches.
  • The sales team relies on the tool to tailor pitches to each account, and it has become a key part of the annual sales planning process.
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1/3

This tool increases the technical capabilities available to decision-makers.

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2/3

Now our client has granular insight into customer needs.

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3/3

Sales leaders use our tool in annual sales planning.

  • 3%

    uptick in incremental
    revenue

  • 2%-3%

    higher incidence rates

  • 4%

    consumption value growth
    across categories

Drives results across industries

NAVIK AI solutions for Sales, Marketing, Operations, and Technology turn data from across your organization into insights that drive revenue, efficiency, and results.

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