How BI Helps FMCG & Distribution Industry To Generate Report Faster

The increase in the average annual income of working professionals has increased their appetite for global and quality FMCG products. This demand has led to an explosion of diverse products in the market as well as introduced new players.

The competition and challenges that the industry suffers in general due to the critical business model require smart marketing strategies to fight the bottlenecks. To be able to have a competitive advantage over others in the industry, an organization must adopt a business intelligence solution to help them strategize marketing campaigns based on predictive analytics.

This is where Business Intelligence tool comes into play for the FMCG industry.

FMCG companies generate a colossal amount of data daily which needs proper organization and maintenance. In due time, these data with the help of a business intelligence tool should be able to generate a complete picture of product performance, supply chain, primary and secondary sales, and so on.

In FMCG, primary sales are from manufacturer to distributor or retailer whereas secondary sales are from retailer to consumers or end users. A business intelligence tool can transform the huge amount of data into useful information. In a contemporary business scenario, one cannot expect to deal with the challenges with just traditional report formats and figures. To reach the top, enterprises need to focus on predictive analytics to make informed and profit-making business decisions.

  

Being a part of the FMCG industry requires inventory and supply chain management to avoid OTIF (On Time In Full) losses. Awareness of the market trends and effective plans for business growth together contribute to running successful marketing campaigns. The sales force of a company determines how effective the marketing strategies would be and what would be the backup plans if the target is not met. To determine the best promotional strategies, Business Intelligence software provides valuable insights which would yield maximum sales. It gives a better understanding of the market trend and the performance of your products.

Some in-built features of BI help in generating faster reports for FMCG companies. Let us see what they are.

Ability to generate reports in different formats - In a business one needs constant data updates to be prepared for any kind of crisis situations like product shortages, slow-moving products and so on. The endless need for reports in customized formats is too much to be handled manually. A BI tool can do it in a matter of clicks and that too in formats you need. Custom filters, reports, dashboards, KPIs and others help to generate reports faster without any dependence on trained data analysts.

   

Quick import of data - Accurate data output depends on accurate data input. Manual data selection, filtering, sorting or input from the huge database stock is not just time-consuming but also run a risk of being erroneous. With a BI tool, one doesn’t have to perform data import manually. The advanced software can import data from spreadsheets, tally, and other applications accurately thereby eliminating chances of the GIGO (Garbage In Garbage Out) problem in reporting.

    

Customized reports in a few clicks - Impeccable customized reports enable the management to take the right plan of action. Through BI one can get a comparison or analysis between of the sales performance of different products within the time frame you ask for. Creating customized reports manually involve huge time consumption and risk of errors. Whereas, a BI tool ensures a seamless report generation process in any graphical representation you demand.

There are many BI tools available for easy and seamless report making and producing insightful data. The transformation of plain data into actionable information which can be acted upon as well as the predictive analysis that helps in business forecast are the main highlights of a Business Intelligence tool. If you are an FMCG company makes sure that the BI tool you choose is designed to cater to your unique requirements. EasyReports is a cutting edge BI tool suited for answering all FMCG problems with customized solutions.