USAopoly, also known as The Op Games, is now using artificial intelligence (AI) to analyze data and plan for retail releases. Alloy.ai is cutting down on time when the company is collecting data so that it can better prepare analyses.
“The typical process of working with data involves spending about 80% of your time preparing the data and just 20% of your time doing the actual data analysis,” says Eric Richardson, manager of forecasting and data analytics at USAopoly. “For example, every week my team used to dedicate about six hours pulling point-of-sale data from all of our retailers and feeding it into a template for forecasting. But now Alloy.ai handles most of that upfront data preparation, so we avoid any potential user error involved with data preparation, our costs are lower, and my team and I can spend a lot more time analyzing data and making business decisions based on that analysis.”
Implementing AI has helped USAopoly save more than $300,000 in efficiency gains and reduced inventory along with a six-figure boost in sales. The extra time spent analyzing the data as opposed to collecting it showed USAopoly different areas where to improve, such as having retailers order more product based on demand and finding the root cause of lower sales.
“Having data that is easily accessible and accurate is critical to understanding what’s working and what’s not, knowing what consumers are buying, making accurate forecasts, and getting the right products to the right places at the right time,” says Joel Beal, CEO and co-founder of Alloy.ai. “That’s where Alloy.ai comes into play, and the benefits that USAopoly has derived from having a single source of truth illustrate how powerful unified and accurate data can be.”
USAopoly has implemented Alloy.ai in multiple departments, including marketing, finance, purchasing, and more.
