Bend, Oregon (PRWEB) January 26, 2016
Rewire Digital, a predictive analytics firm geared towards the small and midsize business, approached Humm with their ability to use internal and external (big data) to predict with reliability where they should expand and why. This would reduce Humm’s risks and increase their ability to hit the ground running with sales in the new locations.
Humm Kombucha, based in Bend, Oregon, has been rapidly expanding in the Pacific Northwest due to the incredible taste profile and accessibility of their popular Kombucha beverages. Available on tap and in retail locations across the Pacific Northwest, Humm is ready for national expansion but faces the same challenges many businesses at their stage face: the bottom-line costs associated with expanding including the effects on production and distribution. It would be great if they knew with more certainty where they could expand.
What do most businesses in this position do? There’s a lot of guessing, intuition, seeing what others are doing, and taking advice from distributors, etc. While these methods can work, they are often costly because they don’t know what worked until the money and resources have been spent. Additionally, they would never know that one of the other options they were considering could have yielded better results for the brand and bottom-line.
Using handcrafted predictive analytics, Rewire Digital built an index for Humm that used big data and Humm’s own internal information to reliably predict (with a 72% confidence level) their top markets for expansion. Rewire then went a step further. They mapped out cities that fell into the index which were close to the top urban regions. This gave Humm a roadmap for less risk because they could now choose urban regions that had more potentiality based on the ability to scale outward. No amount of guessing or intuition can replace this type insight for a small business.
The decreased risk means they can avoid bottom-line losses and plan more efficiently for production and distribution based on the results from Rewire. Predictive analytics gave Humm Kombucha unknown insights that will save them money, increase sales, and help with the planning of their production and distribution as they expand.