Colgate-Palmolive set artificial intelligence (AI) to work as it sought to tackle one of the thorniest problems in marketing: discovering the true return on investment (ROI) from its retail promotions.
Given that consumer packaged goods (CPG) manufacturers usually allocate between 30% and 40% of their budgets to such activity, finding anything near a definitive answer would generate significant value for the business, argued Rahul Tyagi, Colgate-Palmolive’s worldwide director/analytics center of excellence.
“Even the slightest impact can have, basically, a big impact on the bottom line,” he told delegates at The AI Summit, a conference held by Informa in New York....