According to the IDC FutureScape Retail 2023 predictions, by 2025, 20% of the top 100 global retailers will drive holistic business results using AI systems with integrated data across retail planning, decisions, operations and optimisation.
CPG commercial teams should brace for the rise of sales recommendation engines – agile platforms which use machine learning to automatically identify, value and prioritise revenue growth opportunities in real time. MACmobile, the provider of purpose-built and adaptable end-to-end cloud-based FMCG value chain solutions, has recently partnered with Keystone, a subscription-based sales recommendation engine that will offer new and existing clients a revolutionary solution for optimising the use of data insights.
According to Cameron Dawson, commercial director of Keystone - the provision of real-time insights, powered by AI and machine learning, are the future: “Through the use of this decision intelligence, customers benefit from optimised retail execution performance that accelerates sales growth.”
Whilst Keystone has only recently launched to market, the company has been in existence for over six years and built a comprehensive data and analytics company. The differentiator now, however, is how to use this data in real time to influence execution on the ground, and ultimately drive growth.
“As we engaged with CPG commercial teams - both locally and abroad - we identified common pain points that their businesses are facing, namely complex data reporting, 'analysis paralysis' (too much data, too little productivity) and the time lag between mining an insight and action – all of which can be resolved through the use of a sales recommendation engine,” says Sean Tennent, chief growth officer for Keystone. “We have established a dynamic, experienced team with relevant expertise across strategic sales processes, business analysis and AI to develop, what we believe, is a game-changer for sales teams.”
By quantifying of the value of the identified sales opportunity and using a real-time ticketing system that mobilises the most accountable individual to ensure immediate execution, Keystone has the ability to increase net sales by up to 12%. According to retail innovation expert, Toby Desforges (Engage, UK), sales recommendation engines, such as Keystone, are set to become one of the biggest breakthrough categories for the retail industry. “It provides useful, and more importantly usable, decision-intelligence at the proverbial click of a button. I think it’s less about 'if' sales teams should implement it and rather 'how soon'."
“Keystone aids real-time decision-making by unlocking a holistic view of performance metrics with a single source of truth. Using the power of AI and machine learning, Keystone delivers real-time, actionable, value-prioritised revenue opportunities where – and when - it matters most,” says Andrew Dawson, CEO of MACmobile. “MACmobile is already API integrated, but Keystone can also sit as a layer on any ERP and/or sales force automation tool which drives a single-system user experience.”
Keystone has been successfully tested across Africa and Asia via leading FMCGs and distributors such as Unilever, Pepsico and DKSH.
Keystone – Actionable Insights, Delivered.
