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Data Mining Helps Dannon Yogurt Increase Market Share

YogurtThe Dannon Company is using data analysis to make excellent business decisions. The company’s data mining efforts were recently featured in this article from FoodNavigationUSA.com.

Like retailers, Dannon uses the data (gathered from store shelves and not directly from consumers) to take the guesswork out of making customers happy.

“Dannon works with retailers across the country to make sure their shelves are filled with the precise product volume and promotion for each store location to meet shopper demand…Through the use of predictive analysis, Dannon is able to understand, plan, and predict their business in ways that were unimaginable a few years ago.”

As the article pointed out, this type of analysis is particularly helpful because yogurt has a very limited shelf life. Success in the yogurt industry therefore means taking advantage of just-in-time supply and delivery. The company must be careful to avoid overstocking and under-stocking, since being too conservative could lose crucial sales.

It’s easy to extrapolate how other companies in the food industry (from suppliers, to food retailers, to restaurants) could benefit from this type of work, since all food has some kind of shelf life. Reducing or preventing waste is always a concern.

Dannon’s success also demonstrates how important it is for each business to isolate and track the right factors. There are a myriad of things you could track and measure, but only some of those parameters will actually lead you to information that will help you make good business decisions.

Good data analysis takes good training. That’s why The Modeling Agency offers a free data analysis webinar as well as a host of other predictive analysis training courses. Better training means better results and an increased data analysis ROI, so sign up today.

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