Читать книгу Profit Maximization Techniques for Operating Chemical Plants - Sandip K. Lahiri - Страница 43

Data analytics and AI‐based digital technology can be used for intelligent decision making in sales and marketing. Mckinsey estimate‐ that digital‐enabled initiatives in marketing and sales could improve the industry's average return on sales (ROS) by two to four percentage points.

Digital initiatives in marketing and sales include developing intelligent pricing systems, generating growth opportunities from data, and using algorithms to predict churn at the individual‐customer level and then suggesting countermeasures to the sales force. The impact of these initiatives can be significant. A large polymer company used advanced analytics to reset prices for hundreds of thousands of product‐customer combinations in three core countries, based on individual risk and willingness to pay. By developing an AI‐based intelligent algorithm, the company was able to achieve price increases of 3 to 5%, compared to 1% increases in previous years. In some other petrochemical companies, the company's manufacturing unit is connected with the sale and marketing unit by an optimization algorithm and the company's production plant process parameters, product split in a multi‐product plant, and capacity are adjusted by the demand scenario coming from sales and marketing forecasting.