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Burgers, lettuce, ice cream and gin and tonics

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Burgers, lettuce, ice cream and gin and tonics

Know through these 4 elements the information that the Benchmarks can give you.
What do these 4 products have in common? That we are going to travel with them through the Benchmark process . We will translate numbers into information in order to apply intelligence “from data” to decision-making. The tool to carry out this journey of knowledge is the Benchmark . The reference that we are going to take from the beginning is that of the Tesco supermarket chain that used an element at first may seem alien to what happens inside its stores: the weather . It is also true that this thinking in terms of whether it is raining or clear is a very “British” trait. Almost as much as the custom of telephone number database countries to meet for a drink . As with practically all the points of sale that have to manage the stock efficiently, those of Tesco have a program that allows them to analyze the rotation of their products. When crossing the sales data with those of the meteorology, they found a series of patterns: when the thermometer rose from 18º the sales of hamburger meat soared 300 %. The lettuce was something like. Except it only increased its demand by 50%. With the ice cream the discovery was totally disconcerting. Where it is sold the most is not in the hottest areas of the city, but in those with below-average temperatures.

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Back on the continent and more specifically in the Mediterranean countries, we find another story that shows us the importance of Benchmarks . In this case, it has to do with “ going out for a drink ”.For some time now, that “something” is irretrievably linked to a combination of two drinks: a quarter is gin and the other three parts are tonic . Yes, I mean the gin and tonic boom. The curious thing about this phenomenon is that it is a Betting Email List that has grown in its Premium segment. Hence, on the bar shelves, the exhibition of gin bottles (as well as its offer on the menu) has become quite a show. Tonic water brands saw the opportunity practically on the fly. Well, this is not entirely true. One of them (Fevertree) quickly positioned itself. The “lifelong tonic” (Schweppes) was taken by surprise. Still, his knowledge and distribution skills accelerated his responsiveness.This is where the Benchmark role would come in . If we only used these data (those of hamburgers, lettuces and ice cream, in addition to those of gin and tonic) to convert them into information, we would reach business conclusions that could leave us in a “ dry hole ”. To turn them into “ intelligence ” for decision-making, we would need to look up to take into account customer habits and points of sale .In the case of hamburgers, Tesco’s have it easy. The points of sale are their own and the customers have high loyalty. They just need the UK to have good weather. In the case of gin and tonic, any savvy entrepreneur who analyzes the growth data for Premium gin consumption (it will grow from 2% to 8%), would see that there is a very clear opportunity to bring a high-end tonic to the market that competes with the only ones on the market. If you did, without taking into account the reality of the market and measuring the quality of the opportunity , you would see that you could be completely wrong.A bar has a maximum average capacity to display 10 different gin bottles . To show tonic, they very rarely have more than two sites . To this we must add that the countries where gin consumption has reached maturity have a single brand for standard consumption and a maximum of two in the Premium range. This type of knowledge about “what can go well and what can go wrong” is only acquired when in our data analysis process we not only concentrate on “the data” but we process it with the objective of measuring quality . Whether it is doing an analysis of the competition , one of work processes , or offunctionalities .

Because, as R. Rigobon explains :

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