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Applying ML and AI to Revenue Growth Management

Revenue growth management (RGM) has long been a critical focus for consumer-packaged goods firms given the underlying drive to boost top and bottom lines in a sustainable way. Looking at the trends within RGM levers today, we see consumers with increasing options across channels and nearly unlimited products, price sensitivity given global and regional economic outlooks, burgeoning media channels that call for astute and creative promotion, and many other opportunities, that evolve rapidly, with the potential to influence growth. RGM has always been guided by data insights and analytical approaches and, now more than ever, the data and AI landscape offers huge potential to make a difference. In this recorded webinar Thorogood Data and AI Consultants Ben Dunmire and Ben White aim to align today’s trends in approaches, challenges, and value-add opportunities in RGM operations with the technical possibilities offered specifically by AI/ML capabilities to help see pragmatic and sensible ways to drive more insights and elicit more organizational value from RGM. They specifically focus on the application of AI and ML to revenue growth management areas to offer a perspective grounded in real business needs and practical ways to meet those needs with AI and ML. Across pricing, promotion, assortment, and trade there are seemingly limitless business practices to model, questions to be answered, and available whitespace – the difference in seeing improved uplift on promotion, getting an additional facing, or solidifying a volume/value driving price change can be massively valued to an organization. We aim to share our deep experience in applying AI/ML to revenue growth management to offer a perspective on steps to take to capitalize on the immense opportunity demonstrated by today’s trends.