Unlock new business value, revenue opportunities, and meet evolving consumer demands using external data

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Consumer goods companies are in the midst of a digital transformation.
They need to maximize opportunities with existing B2B channels such as retailers, independent grocery stores, convenience stores, and corner shops. As consumer buying behavior increasingly shifts  online, they also need to expand and grow new D2C channels. Data and analytics will drive much of this shift and the right data means augmenting your internal data with external data signals that provide deeper insights and a more complete view.

Explorium's automated data science platform

Challenges

Consolidating external data for analytics is resource and time consuming
Explorium’s External Data Platform centralizes access to public, premium, and proprietary external data for business analysts, data scientists, and business leaders

Transforming, matching, and integrating external data is tedious work
Explorium’s External Data Platform ML capabilities automatically match and integrate external data with your internal data accelerating time to value

Assessing the value of external data is inexact
Explorium’s External Data Platform identifies the relevant external data signals and calculates the uplift in your ML models before deployment

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Benefits

The right external data is a competitive advantage. 

Understanding the broader trends in the market and including that in your analytics and models will improve their performance. Integrate external data with your internal sources to improve decisions and outcomes for your business
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Optimize field sales with lead generation and improved lead scoring
There are over  1 million restaurants, 150,000 convenience stores, and 45,000 beer/liquor/wine stores in the USA alone. Selling to these establishments has always been difficult, many open and close quickly or move to different locations. Supplying  your sales force with the right data and tools to better target these accounts will accelerate your sales process, close business, and build better relationships with your customers. The right data means augmenting your internal data with external data signals that provide deeper insights.
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Enhance pricing & promotion strategies
The right pricing and promotion strategy can boost sales. Simply launching one doesn’t mean it will work. Enhancing pricing and promotion strategies with external data sources can boost their ROI. Increased visibility into granular details such as web searches for “coupons”, number of retail stores in a specific location, and income levels in the surrounding areas enhances internal data sources. This enables you to create targeted strategies with higher likelihood of success.
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Optimize marketing efforts through improved customer segmentation
As more consumer goods companies establish online marketplaces, one of the biggest challenges you’ll face is understanding who your customers are and why they buy. Data scientists and market researchers use data to look for patterns, which can help inform new segmentation strategies based on predicted behaviors. Using external data in conjunction with your internal data and website analytics will give you a richer understanding of your customers’ needs and will enable you to communicate with and target existing and new customers more effectively.
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external data acquisition

If you’d like to know how you compare with other organizations in the pursuit of the most relevant 3rd-party data, then don’t miss our latest research.

DATA

Unlock new business value with external data.

Explorium’s External Data Platform  improves analytics and machine learning. Explorium enables organizations to automatically discover and use thousands of relevant data signals to improve predictions and ML model performance. Explorium’s  External Data Platform empowers data scientists and analysts to acquire and integrate third-party data automatically, cost-effectively, and in compliance with regulations.

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Example data signals for Consumer Goods

Demographic information:

  • Population
  • Age distribution
  • Average income
  • Population density

Review based information:

  • Business rating and reviews
  • Health score
  • Average pricing of businesses in area

Business information:

  • Number of businesses nearby by category
  • Foot traffic information: number of visits in the area, places people visited on the same day, etc.
  • Tourist attributes: hotels and attraction characteristics (number of hotel rooms in an area, etc.)

Purchasing and spending  behavior:

  • Likelihood to buy certain products
  • Spending patterns
  • Spending information by industry: music, sports and leisure, travel, beauty, apparel, and more
  • Online spending habits
  • Credit card usage

View our Data Gallery to see more examples and learn more.

RESOURCES
Optimize Your Analytics — Why You Need a Data Acquisition Strategy
Explorium Field Sales Optimization Webinar
Explorium for Sales Optimization
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