LEADER IN COSMETICS
Measuring impact of social media and influencers on sales
Our client, a worldwide leader in cosmetics and perfume, wants to measure the impact of social media activity on sales. The objective was to enlarge the data sources scope, to include various open data sources and test their impact on the Machine Learning algorithm’s results.
The geographical scope of the project was Europe, and the goal was to improve forecast accuracy on SKU level, for a monthly planning process.
- Test the impact of a variety of open data sources (social media, demographic data, weather etc.).
- Create new Machine Learning features, based on the open data sources with the most impact (ex. Instagram)
- Retrieve these data on a Machine Learning algorithm using an API and transform them into business data, providing the sales impact.
- Develop a reporting tool that allows users to see which Instagram key word, has the biggest impact, which social media promotion, for which time and region and for what category of materials.
- Provide user’s open data, in order to define target groups for specific marketing campaigns and types of materials.
- Using Instagram as a data source, allowed us to improve the forecast accuracy for the European scope and provide a unique vision to planners and other business teams (ex. Marketing), that they never had before.
- The reporting tool provided, allowed users to realize the social media impact, specifically in a region and SKU level, and vastly improved the planning process in terms of efficiency and performance.