For decades, companies have relied on transactional data to determine performance. For B2C product companies, this means point-of sale data that verifies the revenue generated from the various online and brick & mortar channels.
However, it’s like looking in the rear view mirror while driving. Point-of-sale data is what happened and doesn’t record what is trending. Or more importantly, why.
This needs to be measured and quantified. “Quantified” means identifying the negative issues behind a weak product’s performance, measuring the loss and subsequently, the gains when the issues are fixed. Once the issues are fixed and the predictive gains are quantified, predictive estimates can be made with regard to revenue going forward.
The same goes for products that are already winners with customers. Measure the product reviews, quantify the gains if more marketing and sales muscle is applied, and you have reliable predictions 30-60 days out.
Channel Signal can do this and we would be pleased to show you how.