Case study: Pricing Watchtower for a Global Consumer Goods Company
About the Client
The client is a global Fortune 500 manufacturer with brands across cosmetics, cleaning, storage, food additives, confectionary and dietary supplements categories.
The objective of the client was to track their pricing changes across retailers and competitors for different products on a weekly basis in all their geographies. The client also wanted a competitor price tracking and compliance accordingly. This would help them identify anomalies based on standard deviation spread across multiple products and geographies.
BRIDGEi2i partnered with the client to develop a price monitoring and alerting solution to help track price and compliance
BRIDGEi2i’s data engineering team interpreted the data from IRI for the various KPIs by product and geography along with cost data across channels (such as retailers, e-commerce, distributors) and brands and Point of Sale (PoS) data by brands.
We used the Watchtower™ to derive insights from various data points and then built Anomaly Detection Models (cluster analysis-based outlier detection, time series anomalies, local outliers & rule-based solutions). Segmentation rules helped track competitor pricing for similar products across geographies on a weekly basis.
The Pricing Watchtower™ is deployed on a dedicated AWS instance. Anomalies and alerts are embedded within a BI application. Root Cause analysis can be drilled down to pre-configured dashboards, and exhaustive slice-dice capability.
Identification of multiple vulnerable product SKUs for violations in prices against last price change
Identification of line pricing irregularities by retailers
Tracking of competitors pricing changes and alert management system