Aligning with the emerging digital ecosystem is a priority for business innovation. Trade promotions management and analytics (TPM&A) is no exception. The important question is – as decision making becomes more distributed, and demand & supply become more dynamic, how can TPM&A capabilities evolve?
In our view, the key lies in integrating these capabilities in the overall value proposition:
Implementing mobility solutions is not just about convenience, it is also an important driver of scalability. Gathering store level competitive intelligence, keeping track of real time consumer demand and serving the supply chain on the go are all crucial considerations. With the emergence of tablets, discussions at client locations can be made more meaningful through a rich and contextual rendering of promotions effectiveness. These capabilities include geo-spatial analysis, drill down reporting and what-if analysis – all capabilities that are difficult to achieve via traditional channels.
Social is not about consumer interaction and Facebook alone. As analytics and business intelligence become more comprehensive, collaboration between enterprise stakeholders has become extremely critical for quick analysis and decision making. Examples include sending what-if analysis to the field for validation, and triangulating within a local geography to validate latest insights on competitive activity. Enterprise workflows have their place, but unstructured collaboration will prove to be a differentiator in securing a competitive edge.
Leveraging Cloud Computing
The emerging digital ecosystems provide opportunities for significant business innovation. Consumer engagement and behavior monitoring are examples of matching demand and supply. Supporting and leveraging local happenings to forecast demand and take appropriate and targeted actions is another. For these innovations to be agile and effective, the cloud provides an exciting and fertile bed of data. While integrations with enterprise systems will be on the roadmap in the long term, tapping into data sources and engaging quickly to decipher trends will help in pushing TPM systems beyond obvious improvements.
Pushing the envelope
Leveraging mobile, social and cloud has the potential of pushing beyond incremental improvements in your trade promotions management and analytics program. Technology is leading business innovation today, and these capabilities provide avenues for breakthrough and trend setting improvements.