Social Media in NPI Planning (Fortune 500 Cosumer Technology Company)

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In this case study learn how BRIDGEi2i helped a Fortune 500 Consumer, Technology company to understand patterns in New Product Introduction and how data can be leveraged for the same

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Social Media in NPI Planning (Fortune 500 Cosumer Technology Company)

  1. 1. A Case Study in Social Media in NPI Planning A Fortune 500 Consumer Technology Company Quick Context Objective • Higher forecast accuracy for New Products – exact impact unknown • Ability for supply chain to rely on a statistical forecast for NPIs rather than just marketing inputs Impact • BRIDGEi2i has significant experience in leveraging Social Media data for predictive analysis • Making this data available in an intelligible manner to SC planners is the crux Key Success Elements Our Approach 3 Months 3 Years Client Project length Length of relationship with client • Social Media reviews are available a few weeks before the product is launched • Blogs from CNET and Amazon were crawled for the New Product as well as its predecessors and competitor products • Twitter and Facebook posts were mined immediately after launch • R was used for text Mining algorithms • Social indices around mentions, promotion, average reviews, sentiments across key features for each product lifecycle • Creation of a advanced panel regression model to relate the social indices and trends over time • Assessing most predictive factors for relating with growth trajectory and build a scoring model • Developed set of indices which are highly predictive about product performance • Operationalizing the technology solution by using automated crawlers and predictive algorithm • Solution provided initial insights on key social media indices to track for assessing performance Data Management Algorithmic Play Operationalization a. Tablets and smartphones have very short lifecycles and quick ramp-ups b. Easy for companies to bleed money if too much or too little inventory is stocked in starting weeks a. To understand if a New Product Introduction will be successful or not b. Social Media is a promising source of information if treated appropriately; can it be leveraged for this purpose?

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