It Takes Data Clarity to Win Over Retailers
Most consumer packaged goods (CPG) companies buy syndicated data to manage retail relationships, pitch to retail buyers, and know the category better than their competitors. Their syndicated data comes from NielsenIQ, SPINS or IRI, but they also likely have retail portal data that might not come with their syndicated data package (like Costco, Amazon, Kroger, HEB, Whole Foods, Walmart, etc.).
All that data needs to come together to compare performance and adjust strategies based on what’s working — and what’s not.
But that creates another challenge: comparing different data vendors’ datasets with categories, labels, and data that just don’t line up. When this happens, the CPG company can either keep each data set in a silo or invest in unifying the datasets; a complicated process that requires significant time and resources.
Finding insights from an endless data flow
The vast majority of sales professionals trained 20+ years ago never dealt with this level of analytics in their day-to-day work. Key strategic decisions were made using brand stories or anecdotal data, with little room for nuance.
Today’s CPGs are dealing with backbreaking expectations: too much data and not enough people or resources to get actionable insights at scale.
Small-scale CPGs don’t have analyst teams that can dive into the details of a relational database schema, query syntax, and data-driven modeling. This leaves the sales team in angst trying to find meaningful insights in the form of selling decks.
Even if there is an analyst team, it’s easy for them to waste hours downloading data, creating pivot tables, and generating reports. They spend roughly 80% of their time on generalized reporting tasks, like pulling datasets from syndicated sources, cleansing data, extracting the necessary metrics, and translating them into a presentable format.
The only way to contend with the data sources is to adopt new tools and technologies that show a relevant snapshot of category and competitive intelligence.
It is possible to work smarter, get the edge you’re looking for and introduce a scalable process across your team with tools that stay ahead of the flow of data.
Get the transparency you need to dominate category growth
At Bedrock, we know data can be, but doesn’t have to be, overwhelming. We help CPG teams come to grips with modern data management technologies by streamlining the aggregation, visualization, and analysis processes.
CPG companies are typically working from the same core syndicated data set, so the challenge isn’t obtaining the data, but utilizing it in effective ways.
Bedrock gives CPGs the transparency they need to show which products are (and are not) contributing to category growth. Our Sales Decomposition feature digs deep into your distribution, velocity, promotion, and merchandising measures to provide a clearer picture of those performance drivers.
We’ve made it our mission to level the playing field with tools that generate insights and take away the uncertainty. We help CPGs win over retailers with the facts. These insights fill the gap between your sales objectives and retailers’ needs, allowing you to be sharper and more reliable with a competitive advantage that wins shelf space.
Our task is straightforward: to enable our CPG customers to grow their sales by telling their strongest analytical stories.
See for yourself the power of Bedrock!