Time Series Forecasting for a FMCG Company

BACKGROUND INFO

In 2015, Anchormen was approached by a large multinational consumer goods company. The client is a major player in the health, hygiene, and home products industry; boasting an impressive portfolio of around 20 “power brands” and dozens of local products available in around 200 countries. The goal of the joint project was to find a data-driven solution that can improve their marketing and sales effectiveness.


THE CHALLENGE

Many multinational companies face marketing challenges associated with regional differences. The huge number of products in combination with the complexity of different markets (based on country and region) makes it extremely difficult to forecast sales performance. As our client has a global presence and extensive reach, an equally ambitious solution was required.


THE SOLUTION

Using classical time series techniques and merging them with advanced data science and A.I. principles allowed for an accurate sales forecast of up to six months divided by industry and product. Furthermore, by cross-validating different models, Anchormen is able to keep a high-level of accuracy in the forecasts.

Moreover, for products which are affected by seasonal changes, we were able to develop complex trigger models that can predict when exactly the period will start. This means our client is now able to better synergize efforts between sales, marketing, and customer retention as well as have improved models (and accuracy) for sales prediction.

If you want to learn more about Time series analysis you can read this article by one of our colleagues or contact us to learn more about the solution.

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