Enables Marketers to Predict Their Marketing ROI and Engineer Future Marketing Strategy Based on Data Driven Insights
Bangalore, India - November 22, 2011:
Wipro Technologies, the Global Information Technology, Consulting and Outsourcing business of Wipro Limited (NYSE: WIT) today announced the launch of its proprietary Wipro Marketing Mix Modeling (MMM) technology solution on Amazon Cloud. MMM helps in determining the marketing ROI and impact on sales by statistically analyzing activities like price change, advertising, media delivery and promotions.
With key features like built in analysis and Dynamic SaaS dashboards, the Wipro Marketing Mix Modeling solution provides actionable intelligence to brand managers and media planners of Consumer Goods (CPG) companies. The 'any-time', 'any-where' real time recommendations to brands and products enable them to determine spend on right channels, Measure KPI's and evaluate the brand's performance on a continual basis. Wipro MMM marketing dashboard is a customizable module where metrics and KPIs of client's choice are defined and reports are designed as per clients business needs. The modeling in MMM is also a client driven formulation where product and locations are defined as per client business models.
As an advisory offering, Wipro analytics and domain experts will present comprehensive insights based on the MMM model results and provide the client brand team with inputs on effective vehicles, efficient ROIs as well as opportunity areas where further marketing investment should be made.
According to research firm Nielsen, the global ad spend in Q1 2011 has been 118 Billion USD. Assuming that 1 percent of the ad spend goes into analytics, modeling and tracking, the market potential of a solution like MMM is close to a billion USD.
CavinKare, an international consumer goods company, has partnered with Wipro for its Marketing Mix Modeling for one of its personal care lines and identified in-store displays and Music TV as potential growth drivers. "Wipro’s analytics recommended the reallocation of TV spends across regions which will help grow volume by 5%. The marketing strategy for our personal care line was revised with the help of Wipro MMM recommendations and we are now positioned to grow 20% faster than the overall market growth for the category. CavinKare has also extended these studies in four other categories where the Wipro MMM model will help grow these brands faster", said Visvanathan, General Manager, Marketing Services, CavinKare.
"Wipro’s Cloud enabled Market Mix Model solution enables Consumer Goods companies to assess effectiveness of multiple media channels, helps optimize marketing spend, and evaluate brand performance based on strong data analysis. This tool will enable a real time management for brand marketing managers for tracking marketing performance and the ROI of the marketing spend, given the ease of access and usage. The tool has been already implemented across half a dozen of global CPG brands and the benefits have been realized." said Somjit Amrit, Vice President and Global Head, CPG Vertical, Wipro Technologies.
The solution is built upon a Microsoft platform where the front end is developed on .Net based architecture and MS-SQL runs the database. SAS is used extensively for statistical modeling and analyses.
Wipro Analytics is a six year old practice with a large pool of statisticians, econometricians, business analysts and SMEs dedicated to each industry vertical/ function. The team has more than 1000 hours of collective experience in advanced analytics across verticals like Retail, CPG, Transportation, Customer Intelligence among others.
Wipro enables CPG manufacturers to re-engineer the way in which they meet the end consumer's needs through solutions around areas such as product innovation, supply chain optimization, consumer insights digital marketing and social media, trade promotion optimization, product innovation, consumer-driven supply networks, farm to fork traceability, food safety compliance, and Market Mix Analysis, to name a few.
About Wipro Technologies
Wipro Technologies, the global IT business of Wipro Limited (NYSE:WIT) is a leading Information Technology, Consulting and Outsourcing company, that delivers solutions to enable its clients do business better. Wipro Technologies delivers winning business outcomes through its deep industry experience and a 360 degree view of "Business through Technology" – helping clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, a practitioner’s approach to delivering innovation and an organization wide commitment to sustainability, Wipro Technologies has 131,000 employees and clients across 54 countries. For more information, please visit www.wipro.com
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