POI applauds Periscope by McKinsey for depth of analytics, machine learning, and more
NEW YORK and LONDON, Oct. 01, 2021 (GLOBE NEWSWIRE) — McKinsey & Company today announced that Periscope by McKinsey, a suite of marketing and sales analytics solutions that helps companies achieve sustainable revenue growth, has received four Best-in-Class distinctions from the Promotion Optimization Institute (POI).
The recognition appears in the POI 2021 Enterprise Planning Vendor Panorama report. It is the sixth year in a row that Periscope by McKinsey has been top-rated in this key annual industry report. The report evaluates how leading vendors help their manufacturing and retail partners understand how technology and services can help them improve promotional outcomes to drive profitable growth.
The ability to execute mutually profitable trade promotions is one of the main challenges facing retailers and manufacturers. Periscope by McKinsey’s highly analytical offering embeds McKinsey & Company intellectual property and a broad array of services in the promotion cycle. Periscope offers six core solutions: marketing, customer experience, category, pricing B2C, pricing B2B, and sales solutions. Each combines ongoing data management, insights, software tools, client service, and capability-enhancing support. Collectively, those elements keep delivering client impact by weaving Periscope’s IP into their clients’ everyday ways of working.
Periscope was named Best in Class in four functional areas:
- Financial Orientation & Simulation
- Collaboration External
- Artificial Intelligence (AI)
- Revenue Growth Management
Periscope was cited in the POI report for:
- Its depth of analytics to support both modern as well as traditional trade (the latter is largely overlooked by many vendors).
- Leveraging machine learning for pattern recognition in post-event analytics to provide more insight than can be yielded by arithmetic calculations.
- Its advanced capabilities, such as cross elasticities, which many TPO vendors do not have.
- Making it much easier to track forecasts and actual against plan at various levels of the hierarchy. This, in addition to the mean absolute percentage error, net percent error, and weighted net percent error, forms the basis of highly accurate reporting.
According to the report, Periscope is differentiated by:
“It’s level of automation and depth of the end-to-end offering of software and services. POI also sees Periscope as being a leader in pattern recognition through machine learning to help in answering the questions that people don’t think to ask. Also, its focus on data management and enrichment to ensure a more favorable output. Finally, the story boards for presenting the insights to customers or internally are compelling because they are dynamic and make collaboration easier than building PowerPoints from scratch.”
Zachary John, Partner, McKinsey & Company
“For retailers and CPGs, it’s been a market-defining year as we witnessed multiple years of e-commerce adoption in just a matter of months, thereby reshaping consumer behavior in short order. Meeting the needs of today’s new consumers requires a new muscle – scalable predictive analytics – to drive precision pricing and promotions.
“That’s why we continue to invest in transformative strategies and client-informed innovations across our suite of tech-enabled solutions to help our clients anticipate and respond to their customers’ needs. Our data-rich analytical suite enables companies to automate and optimize pricing, promotions, and assortment using pattern recognition through machine learning. This means they can rapidly make intelligent decisions to increase revenue, improve customer acquisition, and shape their value perception.”
The POI 2021 Enterprise Planning Vendor Panorama report can be accessed here.
About Periscope® by McKinsey
Founded in 2007, and now a part of the McKinsey Marketing & Sales Practice, the Periscope® by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and cloud-based tools with expert support and training. It’s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into big data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2–7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions is comprised of: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions, and Sales Solutions. These are complemented by ongoing client service and custom capability-building programs.
To learn more about how Periscope’s solutions and experts are helping businesses continually drive better performance, visit www.mckinsey.com/periscope
About Marketing & Sales, McKinsey & Company
The mission of the McKinsey Marketing & Sales Practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today’s omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management.
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