Development of Vblog Analysis Platform leveraging Artificial Intelligence
Artificial Intelligence (AI) is revolutionizing every aspect of FMCG industry by reshaping the way companies operate
12.10.2023
In this ever-changing Digital and Connected world, the latest cutting-edge technologies are playing a key role in disrupting various sectors. Artificial Intelligence (AI) is revolutionizing every aspect of FMCG industry by reshaping the way companies operate and by enhancing the customer experience like never before. Sustaining profitability in these highly competitive sectors is a major challenge for businesses. While most of the FMCG businesses involve distributing small-ticket goods to every neighborhood shop in the country, timely access to information about popular outlets among their target audience, availability of their products across stores are paramount for success.
Our Client is the world’s leading super FMCG company in Soft Beverages and their problem statement is that if we can deliver an AI enabled Digital Platform, for their sales/distribution teams, which can analyze data from the video blogs of the bloggers and obtain product insights from the publicly shared content and also track their products availability across various stores.
Traditionally, achieving this involved deploying teams to manually gather data on product availability, competitor presence, and consumer preferences – a time-consuming and labor-intensive process. However, the landscape is rapidly evolving, thanks to the convergence of Artificial Intelligence and the rise of social media influencers, particularly in the food industry. Today, food bloggers and influencers create a plethora of content, showcasing their culinary experiences at renowned restaurants and eateries. These vlogs serve as a gold-mine of information for companies eager to understand market trends and consumer behavior.
By leveraging AI algorithms and Data Analytics, we sought to harness the power of these vlogs to analyze the market landscape and identify opportunities for brand placement and expansion. The process begins by aggregating social media data from various platforms. This raw data undergoes rigorous filtering to extract relevant information related to outlet popularity, product availability, and competitor presence. The AI algorithms sift through the data to pinpoint food influencers whose content aligns with the company's objectives and this ensures that only influential voices with substantial reach are considered for analysis.
We leveraged advanced tools like TensorFlow, for training AI models with the preprocessed sample data. These models learn to identify patterns and trends indicative of outlet popularity, product placements, and consumer preferences. Once trained, the models undergo rigorous testing using real-world data to ensure accuracy and precision. After thorough validation, the models are deployed for ongoing market analysis. The AI-driven analysis is performed on a weekly basis, generating insights presented on a comprehensive dashboard. This includes metrics such as consumption trends, product availability, and competitor positioning which can be visualized through intuitive heat maps.
The implementation of this innovative approach offers several advantages:
The convergence of Artificial Intelligence and social media influencers is reshaping the FMCG landscape, offering unprecedented insights and opportunities for identifying new go-to-market strategies for the sales teams. Our client is leveraging the Digital Platform delivered by Truminds to engage into new territories where their product has no presence or the competition has the first mover advantage. By harnessing the power of data and technology, we are helping our client stay ahead of the curve in an increasingly hyper-competitive market environment.
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