Predict : Cost Optimization
Predict's Cost Optimization feature helps you identify opportunities to minimize costs and maximize profitability. This segment breaks down the intricacies of cost management into simple, actionable steps whether it’s identifying areas where you can optimize costs by reallocating your ad budget to the channels where they work, or fine-tuning your inventory levels to reduce holding costs
Predict analyzes your existing data to provide specific insights aimed at boosting your sales growth through various strategies.
Steps to access Cost Optimization
Click on Predict > Cost Optimization
Cost Optimization feature provides actionable recommendations across various subcategories to help you optimize costs.
- Reduce Budgets:
Discover opportunities to eliminate unnecessary spends. Cost Optimization feature identifies areas where you can reduce costs while maintaining campaign efficacy.
- Optimize Ad Spend:
Allocate your advertising budget to the most effective channels and campaigns. Predict guides you to reallocate resources towards channels and campaigns that promise the best return on investment (ROI).
- Enhanced Inventory Management:
Maintain optimal stock levels to meet demand without overspending. Predict forecasts demand and recommends stock adjustments to minimize holding costs.
- You can also set any strategy as default by clicking on " Set as Default"
- Each recommendation offers an estimated "Monetary Impact" which quantifies the potential benefits of implementation along with a due date
- Click "View Details" on any recommendation card to understand the underlying analysis and data driving these suggestions.
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