Lack of actionable recommendations due to manual data interpretation
This leading FMCG company tracks the market share performance for its flagship products. The performance is analyzed in comparison to its competitors at all-India and state levels using Nielsen research data.
Every month the research team extracted and published data in their MIS system. The data was manually managed by the Market Insights team to analyze and create comprehensive reports. Many times the team would only share the MIS data in the form of excel spreadsheets, leaving the decision makers to interpret insights on their own. The team was constrained by time and lack of skills to carry out the reporting and analytics process. And this became evident when the business leadership team could not find answers for in-depth queries.
Also, the entire procedure of report creation was extremely tedious and time-consuming. Given the frequency and magnitude of data across different products, at all-India and state levels, it became very strenuous for the team to deliver quality reports in the required time. The time lag caused the business leadership team to hold back on critical opportunities, delays in understanding consumer behavior and demand, and thus affected the timely adjustment in market strategies of the business.
- The Market Insights team took a significant amount of time for report creation
- Lack of personalized reports for top management and other levels
- Difficulty in obtaining valuable insights at a granular level about competitors and the market
- Lack of customization leading to a restricted perspective on data visualizations
Enabling faster decision making with Insightful Reports
Decision makers at the leading FMCG company took notice of these issues and found a solution in Phrazor's end-to-end reporting platform.
- Phrazor, the natural language generation platform helped the FMCG company to automate its market share reports by converting complex data from their MIS system into easy-to-understand narratives, for their flagship products
- The team could now comprehensively analyze, interpret, and generate reports at a much granular level. Deploying Phrazor enabled them to view data from different perspectives like market insights based on different channels, metro cities, flavors, and packaging sizes
- Phrazor helped in generating various category and brand reports for the state and country heads every month. These reports were customized to fit the specific needs of the products and the team, including actionable recommendations. The team could now speedily generate countless, multi-layered reports
- The convenience of different distribution formats like .pdfs and editable .ppts made it extremely easy for the FMCG company to share these reports with the team for internal discussions and collaboration
- Phrazor also brought standardization in their market share reports in terms of layout, style, and diction
- Phrazor assisted the team at the FMCG company to undertake in-depth competitor analysis by highlighting the potential competitor threats which were earlier missed due to lack of data analysis, interpretation, and time constraints
By replacing manual reporting with automation, the FMCG company could -
- Drastically reduce the time lag in report creation from days to minutes
- Provide instant access to exhaustive data in the form of easy-to-comprehend reports
- Experience new levels of speed and data accuracy
- Empower the team to be on the same page by leaving no room for data misinterpretation
- Fastrack well-informed decision making to make the most of growth opportunities
This company is committed to helping people live healthy lives. For more than 125 years, they have innovated and introduced new products and technologies in nutrition, diagnostics, medical devices and branded generic pharmaceuticals for infants, children, and active adults among others. The company has a workforce of 99,000 employees serving customers in more than 150 countries of the world.