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Business Tip 5
Case History - Hormel Foods
Top Line
Hormel Foods Corporation selects XP3 to elevate its ability to analyze syndicated scan and panel data, and to automate the updating of its customer business planner.
Situation
Hormel Foods recognizes that, when it comes to providing outstanding
value to its retail partners, nothing short of "best-in-class"
would do. And efficient data analysis wisely became a part
of that quest as it sought a vendor to supply a solution that
would provide the right insights to its customers, quickly
and easily.
Goal
Success in this initiative was defined as the ability to provide
both outstanding value and a quick win. Specifically,
Hormel was looking for:
- Ease-of-use
- The ability to quickly convert multiple data sources into actionable insights
- Improved response time to retailer requests
Action Taken
After choosing Interactive Edge's XP3 as the right solution
to meet its needs, Hormel embarked on a fast-track schedule
to implement XP3 over the course of a few weeks.
The team centered their efforts on specific business goals
and measurable results. This focus provided the foundation
for a quick win -- allowing Hormel to roll out tools for use
with retail partners almost immediately.
Based on initial feedback from the field, presentations were
finalized and an automated process was implemented to load,
manage and update the applicable data on an ongoing basis.
Key Benefits
All indications are that XP3 is providing Hormel with
the competitive edge it was looking for. In fact, Ryan Michaelis,
National Category Sales Manager of Hormel Foods, stated:
"XP3 will allow Hormel Foods to maximize our usage
of data as a sales tool by creating actionable analyses
that will take the form of easy-to-understand, dynamic PowerPoint
presentations.
"The amount of time it will take us to create our
category management and selling stories will be dramatically
reduced thanks to the efficiencies of XP3, allowing
more time to uncover uncommon insights that will set us
apart from the competition."
The data, products and accounts depicted in this example are fictitious. Any resemblance to actual data, products or accounts is purely coincidental. |
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