Help build Predictive Analytics expertise across the enterprise by leveraging opensource data science artefacts and embedding them into modern Enterprise Data Hub.
Implementing predictive models to support the pricing analytics organization with the capability to predict accurately about competitors’ price changes taking into consideration the current and forecasted commodity prices as a first priority and adding any external factors that influence the accuracy of the models. Though this was a stepping stone for the future predictive analytics roadmap it delivered immediate business value as the pricing Analytics team was able to act upon the modeling the price for the brands prior to the competitor taking pricing action. Following the predictive model development operationalization of the model in the enterprise, hub drove towards a foundation for near real-time pricing predictive analytics
Deeper insight into this solution involved prediction across time horizon that required performing exploratory Data Analysis steps around salient features around factors selected. Evaluation of the seasonality embedded in not just commodity prices but also other factors just as packaging, transportation costs along with Historical pricing data was used for the competitors’ brands