Retail
Forecasting
In uncertain times and low-margin industries like the retail industry an accurate view of future business performance and trends is key. Creating accurate forecasts has therefore a direct positive impact on business profitability. It allows more accurate planning in all departments of a retail company and helps in reducing overhead costs e.g., through reduced stock levels or better capacity planning of the workforce.
Furthermore, forecasting models have the benefit that they can simulate what-if scenarios within your company and help in steering decision-making in the most beneficial direction.
At DICE Business Analytics we use state-of-the-art forecasting technologies like advanced time-series analytics and always work closely with our business partners to develop the most accurate but also user-friendly view of the future. The ROl of our forecasting solutions is usually reached within the first year of usage.
Customer Segmentation
Building data-driven segmentations is one of the core things we do at DICE Business Analytics. The tendency towards more personalized marketing and to better understand customers, puts a data-driven segmentation at the core of each retail company’s action plan.
In order to increase customers’ shopping experience a retailer needs a solution to offer personalized communication. DICE Business Analytics can develop such a segmentation scheme based on customer behavior and shopping habits, which enables a retailer to adapt communication to individual customer needs.
Promotional Effectiveness
Optimization of promotions can lead to a 2% increase in bottom line. We develop a framework for our clients that helps distinguish and clustering the promotions from different angles, like ROI, product categories and vendor point of view, as well as promotion mechanisms to use. As part of our framework, we take cannibalization between products and over time into account.
From these frameworks it is then easy to derive actions and make concrete recommendations about which promotion to keep/abolish and how to design an optimal promotion plan Furthermore, insights in promotional effectiveness increase leverage during negotiations with suppliers.
Dashboarding / Visualizations
We believe in delivering data solutions for analytics from end-to-end: Therefore, dashboards and data visualization apps are an integral part of any of our solutions. We help our retail and pharmaceutical industry clients in building the appropriate reporting dashboards for their data questions or on top of our data science models. Dashboarding helps you to make data-driven decisions that boost growth and profitability. With our dashboarding solutions they can create interactive visualizations of their data – such as charts, graphs and tables in order to track key metrics, and identify trends and opportunities.
We have experience in creating dashboarding solutions in PowerBI as well as building data apps in Streamlit and Plotly Dash.
Pharma
Forecasting
DICE BA supports projects of long-range forecasting for pharmaceutical companies. We collect and put together datasets from internal and publicly available sources and forecast market developments of vaccines or drugs using cohort-based approaches. We also forecast market shares and product prices using different scenarios (e.g., base case, upside and downside scenario), taking into account the competitive environment as well as the anticipated developments and product labels in the therapeutic field.
The forecasts can be tailored for specific purposes like production capacity planning, tender bidding priorities and estimation of project feasibility and ROI.
Early commercial strategy
Early commercial strategy is a vital component of R&D strategy and feasibility. Based on our understanding of different market drivers and important product label features (age groups, product efficacy, product side effects) as well as the competitive landscape we predict the sales of a product over the product lifespan.
Our methodology focuses on understanding key product label items to predict commercial success. Subsequently we map out the competitive landscape and anticipated product profiles as well as launch timeframes in time. We pay particular attention to the business model of key suppliers and how we can accommodate best their needs in terms of value creation, through smart distribution and pricing strategies.
Dashboarding / Visualisations
Dashboards and data visualization apps are an integral part of any data driven organization. We help our clients with building the appropriate reporting dashboards for their data questions or on top of our data science models. Dashboarding can help them make data-driven decisions that boost their business growth and profitability. With our dashboarding solutions they can create interactive visualizations of their data – such as charts, graphs and tables in order to track key metrics, and identify trends and opportunities.
We have experience in creating dashboarding solutions in PowerBI as well as building data apps in Streamlit and Plotly Dash.