Business Challenge
A leading multinational healthcare company wanted to identify the reasons for the decline in the sales of its trademark patient monitoring systems in North America.
Situation
The client was facing challenges as the sales performance of its patient monitoring systems was declining. The company was looking for solutions to improve its sales and facilitate smarter and more effective decisions.
Approach
We conducted a deep-dive data-driven analysis of the company’s current performance, to identify the potential causes for its low sales performance. We determined variables that had a high correlation with market demand, ascertained the relative weightage of each significant factor, followed by a statistical representation of correlated variables.
Impact
Based on our insights, the client was able to implement best practices in its product distribution strategies and establish better processes for forecasting demand. This helped the company restructure its sales strategies in alignment with the market demand.
