Escalent saved us so much time, but more importantly uncovered the key insights that were hidden right in front of us. We were drowning in e-commerce data, but couldn't get our hands around how to organize and draw value from it. The process they put in place lets us run much faster in our market by seeing trends in near-real-time.
With online shopping showing no signs of stopping, this packaged goods giant was struggling to optimize e-commerce sales. They needed insight into which SKUs to sell, at what prices, and on which platforms in order to maximize revenues. At the same time, the company was drowning in sales data which was unorganized and unusable in its current form. Cleaning and categorizing this data would take the majority of the team’s bandwidth, leaving them limited time for interpretation and insights. The company needed help organizing and sorting all the available data in order to apply the appropriate analytical lenses for insights.
Cleaning, preparing, and analyzing fragmented and unstructured data is no small task. Escalent helped streamline this process by building a robust framework to automate over 60% of the work. The process offered efficiencies by automating the cleaning, categorization, and calculations of data as per set rules. We then went on to create digestible reports and relevant product breakdowns that helped provide actionable insights to answer questions on brand performance, white space opportunities, pack prices, and competitor threats.
The client reduced the time spent on data mining and manipulation by over 60% and uncovered insights that helped increase sales. For example, specific insights were gathered on the popularity of pack sizes, pricing tipping points, trends in new pack types, and e-commerce shopping patterns. The new model allowed for near real-time analysis and refinement of strategy going forward.
Prior to the engagement with Escalent, the client team spent up to 70% of their time reconciling, mining, and manipulating data. After the new process was implemented, this time was shifted toward insights-generation and strategy decisions, giving the company a higher value return on their employees.
AI tools have already gotten a lot better from the first generation, but are they a viable substitute for the art and science of research and analytics? Not yet and maybe never. Escalent's Implementation Consultants can complete your complex tasks with speed.
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