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How AI/ML is Revolutionizing Decision-Making in RGM
Uncover how AI-driven platforms are reshaping decision-making in RGM, leading to remarkable improvements in efficiency and ROI.
Published: August 4, 2023
— Revenue Growth Management, harnessed with AI, is the game-changing tool that empowers businesses to optimize strategies, break traditional barriers, and outpace the competition.
The following are the main takeaways from Adam Ben-Yousef’s session at aim10x London.
Unlocking Strategic Advantage through RGM:
Adam emphasized that RGM is a crucial tool for businesses, allowing them to make informed decisions and investments in sales and marketing initiatives. By applying economic principles and data-driven strategies, companies can shape consumer demand to align with their overarching goals and drive sustainable growth.
Strategically Balancing Investments:
The keynote highlighted the significance of resource allocation across the three key levers of RGM: price, marketing, and physical availability. By understanding the impact of each lever on consumer behavior, businesses can overcome operational silos and complex decision-making processes, leading to optimal outcomes. Effective resource allocation requires a deep understanding of market dynamics, consumer preferences, and internal capabilities to maximize returns on investment.
Harnessing Advanced Analytics for RGM:
Adam delved into the transformative power of advanced analytics in RGM, showcasing how businesses can generate additional ROI and profit by making data-driven investment decisions. By leveraging the insights gained from analytics, companies can uncover patterns, trends, and opportunities, unlocking the potential for substantial financial gains.
The keynote explored how AI engines can revolutionize decision-making in RGM. By analyzing billions of possible investment combinations, AI-driven platforms enable businesses to optimize their strategies based on specific goals, such as sustainability or profit maximization. This shift from manual analysis to AI-driven insights empowers real-time decision-making and feedback loops, improving overall business efficiency.
Value Realization through Platform Technology:
Adam emphasized the role of platform technology in enabling businesses to move from value identification to value realization. By integrating analytics, insights, and planning processes, platforms facilitate centralized decision-making while empowering local teams. This streamlined approach enhances collaboration, efficiency, and agility, providing live insights to supply chain partners.
Closed Decision Loops and Data-Driven Improvements:
Creating closed decision loops and tracking relevant data enables businesses to conduct post-event analysis. By leveraging platforms and systems, companies can inform future simulation models and predictive recommendations, leading to continuous improvement within supply chains. This data-driven approach breaks down barriers and frictions, enhancing operational efficiency and collaboration.
Transformative Impact on Commercial and Supply Chain Teams:
Adam addressed the transformative impact of AI-driven platforms on commercial and supply chain teams. Real-time collaboration and integration of data-driven insights break down traditional assumptions and enable more efficient operations. Adam emphasized that these advancements are set to differentiate the digital winners and losers of the next generation, as organizations embracing these capabilities will reap significant benefits in terms of efficiency and profitability.