When it comes to food products, customers expect consistency in taste and quality. However, various factors can impact a product’s taste by the time it gets to a customer. Anything can happen during the manufacturing, storing, or delivering process. These factors influence the product’s overall quality.
Using various data analysis methods, food and beverage companies can take control of their manufacturing and delivery processes. They can predict all the factors that can affect a product’s quality. These insights can be gained in real-time so necessary adjustments can be made and preventive steps are taken.
Big Data analytics, predictive models, and research tools and analytics can help companies solve multiple problems that they deal with regularly. In this blog post, we’ll go over how PREDIK Data-Driven’s data analytics solutions and predictive tools help the food and beverage industry.
Predicting a Product’s Shelf-Life
Each time a food or beverage business changes its product’s quality; they also change its shelf-life. If the product quality is degrading, it can affect the shelf-life, and they’ll have to make the necessary adjustments to ensure the product is not going to waste by the time it reaches the customer. It saves money and time for manufacturers, retailers, and customers.
Data analytics and predictive tools use various methods to predict a product’s shelf-life accurately. These tools and software are great for predicting future events and discovering predictive patterns, which can help food and beverage companies as well.
Boosting In-store Sales
Food or beverage businesses can also use data analytics to increase their in-store sales and revenue. They can use GPS and location analytics in combination to send a pop-up SMS. This alerts the customers about a product’s promotion, especially if the customer has purchased it before. This can increase any brick-and-mortar store’s traffic and learn about the trends.
Using Data Analytics, an ice cream shop can tell nearby customers about a deal or promotion on their favorite ice cream, which they might have purchased recently at the store. Big Data can let the store know about the most bought or most favorite ice cream flavor.
On-time delivery is extremely vital in this industry. Deliveries to food chains, restaurants, shops, and even home cooks need to be on time so they can deliver things accordingly. Each party has to keep in mind the weather conditions, traffic, and different routes. Using data analytics, they can optimize these deliveries
Data analytics can also optimize on-time deliveries to restaurants, food chains, and home customers because it will collect information related to road traffic, weather, temperature, and routes. Once they generate accurate estimates of each order’s time, they can avoid delivering stale products. Using the right tools, perishable products can be delivered fresh.
Allocating Across Various Locations
Big Data research tools provide location-specific information. This includes purchasing decisions of customers. For example, if a company knows that more than 60% of its customers in a specific region are only going for sugar-free beverages, it will ship more of those. They won’t have to waste their resources shipping sugary beverages to that region.
Analyzing Customer’s Sentiments
There are more than 4.62 social media users in the world. Data is accumulated and generated with each post, comment, like, and share. Companies leverage this information to learn more about how their customers feel about specific products. They can use the customers’ emotions, opinions, and reactions to make decisions.
Optimizing Branding and Marketing
The industry often has new entrants who must stand out from the competition. With billions of dollars being poured into branding and marketing, data analytics is necessary to reach target consumer groups, gain appropriate insights, and discover new lucrative opportunities.
Businesses can use predictive tools and analytics to understand market dynamics. This will help them build better marketing strategies. For example, many food chains and restaurants offer combos or value-added meals which attract customers.
Leading Data Analytics Solutions
Food and beverage companies can use data analytics solutions to access quality data to help them make the right decisions to stay ahead of their competition, remain profitable, and target their customers.
Do you also want to use data analytics for your business? to benefit your business? Get in touch with PREDIK Data-Driven. Their experts can assist businesses in the food and beverage industry and help them find the right predictive models and data or customer analytics. The data analytics company also offers different supply chain analytics and location intelligence tools.
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About the Author
The author is a data analytics expert who has worked with marketing and branding companies in several industries, including retail, food and beverage, real estate, and automotive. He is also affiliated with PREDIK Data-Driven.