Any “foodie” knows that pairing wine with cheese improves the culinary experience.
The same can be said of pairing analytics with data to improve the business experience
Organizations that use business analytics make all kinds of data more consumable, flavorful and, dare we say, tasty.
From winemakers that crush grapes into vintage blends to cheese manufacturers who age the very best, food and beverage companies across the globe are adding a new "ingredient" into their decision-making to improve the quality, safety and production of its products.
For instance, Delegat’s Wine Estate, the New Zealand producer and marketer of Delegat's and Oyster Bay wines, is using analytics to understand the effects of changes in grape supply, capital structures, foreign exchange impacts and distribution decisions to confidently predict long-term business growth.
While the winemaker has undertaken a well structured growth plan to meet the international demand for its wines, its dependence on spreadsheet-based planning tools was insufficient for the complex dynamics associated with grape harvests and global wine production.
After implementing IBM’s performance management solution, Delegat’s is now able cultivate more insightful decisions about its vineyard portfolio such as renegotiating leases and exploring new land acquisitions.
And, they can now run simulations to predict the effects of changes in its operations, such as whether selling and promoting a particular wine in one country will cause supply constraints elsewhere. In this way they can structure the supply side of its business to meet these shortfalls and also predict which option proves most profitable overall.
Analytics is increasingly becoming a competitive differentiator for food and beverage organizations, but also a key factor in preventing the fraudulent production and labeling of certain foods.
In Italy, Consorzio Parmigiano-Reggiano uses certification marks to protect the safety and brand integrity of Parmigiano-Reggiano cheeses. This consortium helps ensure the quality and control of cheeses produced in Italy and ensures strict production standards upholding the reputation of the region’s cheeses.
By replacing manual inspection reports and integrating production data from all of its producers, Consorzio is leveraging IBM business intelligence to analyze production and market data to ensure that cheese is made to its exacting standards, and to plan future production and pricing.
The association now monitors the daily production levels of its dairies, and any deviation from the amount of cheese that should be produced based on consortium protocols is flagged. The solution monitors and analyzes the amount of cheese already produced, and creates forecasts by correlating factors such as milk production and availability, geographic and financial data.
Now, they are able to improve reporting times from the dairies by 97 percent, replace monthly reports with daily monitoring, and enable near-real-time analysis of the information.
All of this is cause for celebration.
Farm to fork or vine to glass, analytics ensures that food products are produced without hazards to supply, safety or environmental sustainability.
So, please put down your cheese and raise your glass of Oyster Bay wine for a toast, “To analytics!”