DECIPHER™ Case Study 15:
Price Optimization
Synopsis
Saved an unknown amount of staff time and software expense by developing a prototype price optimization model.
Background
Brown-Forman is a diversified producer of fine quality consumer products and the 760th largest company in the US with $2.849 billion in revenues and $3.626 billion in assets. It was founded in 1870 by George Garvin Brown in Louisville, KY, U.S. His original brand, Old Forester Kentucky Straight Bourbon Whisky, was America’s first bottled bourbon and remains one of Brown-Forman’s finest brands today. Geo. Garvin Brown IV, a descendant of the founder, is part of the 5th generation of Brown Family members engaged with the company and serves as the Presiding Chairman of the Board. Brown-Forman employs 4,120 people worldwide with about 1,000 located in Louisville. Brown-Forman, one of the largest American-owned spirits and wine companies and among the top 10 largest global spirits companies, sells its brands in more than 135 countries and has offices in cities across the globe. In all, Brown-Forman has more than 25 brands in its portfolio of wines and spirits. Brown-Forman is a diversified producer of fine quality consumer products. It was founded in 1870 by George Garvin Brown in Louisville, KY, U.S. His original brand, Old Forester Kentucky Straight Bourbon Whisky, was America’s first bottled bourbon and remains one of Brown-Forman’s finest brands today. Geo. Garvin Brown IV, a descendant of the founder, is part of the 5th generation of Brown Family members engaged with the company and serves as the Presiding Chairman of the Board. Brown-Forman employs 4,120 people worldwide with about 1,000 located in Louisville. Brown-Forman, one of the largest American-owned spirits and wine companies and among the top 10 largest global spirits companies, sells its brands in more than 135 countries and has offices in cities across the globe. In all, Brown-Forman has more than 25 brands in its portfolio of wines and spirits. Brown-Forman is a diversified producer of fine quality consumer products. It was founded in 1870 by George Garvin Brown in Louisville, KY, U.S. His original brand, Old Forester Kentucky Straight Bourbon Whisky, was America’s first bottled bourbon and remains one of Brown-Forman’s finest brands today. Geo. Garvin Brown IV, a descendant of the founder, is part of the 5th generation of Brown Family members engaged with the company and serves as the Presiding Chairman of the Board. Brown-Forman employs 4,120 people worldwide with about 1,000 located in Louisville. Brown-Forman, one of the largest American-owned spirits and wine companies and among the top 10 largest global spirits companies, sells its brands in more than 135 countries and has offices in cities across the globe. In all, Brown-Forman has more than 25 brands in its portfolio of wines and spirits.
Challenge
Developing a price optimization model for optimizing profits for selected brands based on optimizing pricing which drives sales volumes.
Solution
Developed a prototype price optimization model that was delivered and integrated within 30 days.
Results
Saved an unknown amount of staff time and software expense by developing a prototype price optimization model.
Return on Analytics
Unknown.
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