Philips Data Expo 2024

Transcript

1. Satyam Arora Head of Commercial Analytics, Philips Sept 2024 Transforming data into strategic & actionable insights driving profitable category growth
2. © Koninklijke Philips N.V. Role of Insights & Analytics in an organization is to make data- driven decision-making translating into profitable growth Qualit y Actionable & Proven Results Forward looking consequences Efficient and Productive Strategic Fit R e s p o n s i b i l i t y t o G R O W T H E P I E
3. © Koninklijke Philips N.V. 5-step approach to ensure actionability of recommendations driving growth and strategic ambitions Translate data findings into a business context, ensuring stakeholders understand the relevance and potential impact. 01 Contextualization • Develop clear, concise, and feasible recommendations. • Prioritize actions that have the highest potential impact 02 Actionable recommendations • Present insights and recommendations in a structured manner • Highlight potential financial benefits and ROI 03 Communication Provide a detailed plan including timelines, required resources, and identify responsible parties to ensure there is a clear roadmap for execution 04 Implementation plan Allow for necessary adjustments and continuous improvement, ensuring that the approach remains effective and relevant 05 Feedback loop
4. © Koninklijke Philips N.V. Descriptive Analytics to provide early warning signs, providing stress scenario, a need to act with targeted recommendation Early Warning Signs of Disruptive Innovation / Change in Consumer preferences • Contextualization • Communication Providing Stress Scenarios and communicating an urgency to act Brand might lose # position to a competitor by the end of 2024 because of its product pricing, portfolio and activation spends • Implication / Actionability • Communication • Actionable Recommendation • Implementation Plan Creating an E2E Analytics model that incorporates feedback action plans from Marketing & Sales Feedback loop
5. © Koninklijke Philips N.V. The ever-changing world of advanced analytics needs granularity, interdependencies & generational analytics HALO contribution Higher ROI with Gen-Z spends  Campaign Assessment proving higher ROI +X% increase in spend in that media channel +XX% increase in incremental sales +X% higher ROI in Gen-Z Campaigns 5x increase in sellout quantity with 1.5x increase in media spent +X pp increase in Brand Strength ROI of X.X YtD
6. © Koninklijke Philips N.V. An era of multi-dimensional analytics with One-Master platform at the core is a key foundation for profitable growth Value Sales Stock From Siloed & Limited data To ONE Master Platform And identifying the leading Drivers of Sales
7. © Koninklijke Philips N.V. Principles of Data Driven Decision Making Objective Can be proved Unbiased End to End Strategically Aligned Adaptive