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The client is the market leader in Indian consumer products with presence in over 20 consumer categories such as soaps, tea, detergents and shampoos among others with over 700 million Indian consumers using its products.
The client wanted to decide competitive pricing for all their products by analyzing a data universe of 181,479 records, involving 87 brands, 506 products, and 10 digital marketplace companies (1 client’s company + 9 competitors) and get smart insights in future trends with respect to competitor pricing.
Datamatics used the client’s 3 months’ data and proposed a hybrid solution, which comprised different analytics tools for conducting Predictive Pricing, namely Descriptive Statistics, Time Series, Hypothesis Testing, Descriptive Statistics, Forecasting, and Inferential Statistics.
client was able to step up their sales figures from 20%
Conducted with the help of advanced analytics
Of the previous data to predict future trends
Of self and competitors to predict future price trends
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Datamatics is a Digital Technologies, Operations, and Experiences company that enables enterprises to go Deep in Digital to boost their productivity, customer experience and competitive advantage.