Alfonso Vazquez, CEOIn a competitive consumer packaged goods (CPG) market, setting the right price for your products is vital to maintaining relationships between demanding retailers and their increasingly fickle consumers. Sales promotions can take weeks to produce prior to presenting them to retailers; and evaluating the impact on their sales at the end of the promotional cycle can be both time consuming and challenging.
Wise Athena helps CPG companies get the right price with breakthrough artificial intelligence (AI) that reveals elasticity, cannibalization, competition, leading price, competition performance, and total sales.
With 98 percent certainty, Wise Athena’s predictive capabilities synthesize vast amounts of data that enables stakeholders to make smarter business decisions.
Wise Athena can analyze all of a CPG company’s different products so they can optimize prices and trade promotions to maximize revenues. “Wise Athena's tools are able to understand different, discreet pricing information and calculate optimal revenue,” says Alfonso Vazquez, the CEO of Wise Athena. “AI is an amazing business tool which we have harnessed” says Vazquez.
In one customer case story, Wise Athena assisted a very prominent cleaning supply company in Latin America with 200 to 300 unique product SKUs (Stock Keeping Units) all priced differently depending on their category, fragrance, use, which store they are sold in, and what sales are currently active at that store.
We want to create a product our customers love, are helped by, and can’t live without
With just one click, Wise Athena helped the cleaning supply company to predict the volumes and margins that each price point would generate for their retailers. “Our product increases our customers' revenue through Big Data. It's a conundrum: their problem is too much data but the secret to increased revenue also lies within that data,” says Vazquez.
Wise Athena is delivering cost-effective business solutions through AI that provide better predictions than traditional financial planning with spreadsheets alone. Data is only as valuable as the actionable insights it produces. Wise Athena’s AI can help companies act on data-driven facts that otherwise can cost millions of dollars to hire teams to unveil.
In addition, their AI can help make precise predictions and provide insights that are far beyond the capabilities of manual processing.
Wise Athena can get customers results in as little as just four weeks.
Wise Athena has big plans for the future, with new feature ideas in the works for maximizing the impact AI can have for the CPG space. With the goal of customer margins in mind, Vazquez shares: “For me it is the product that matters most, and we are actively dedicated to making a big impact on the way our customers set prices.”