Bedrock Analytics Delivers Unprecedented Product Innovation, Bulks up Leadership Team Amidst Rapid Revenue Growth
CPG Analytics Company Making Fast Strides Towards Its Vision of Democratizing Data for CPG Analysts, Sales and Category Managers
Bedrock Analytics, an intelligent analytics and insights automation platform for the Consumer Packaged Goods (CPG) industry, announced that it more than doubled its revenue from January to July of 2019—a period that saw the company deliver unprecedented product innovation for the CPG industry. The company also announced the addition of several new employees, including senior leaders in its engineering, data science and customer success departments. The moves position Bedrock for even further success in H2 as it continues to pursue its vision of democratizing insights from all relevant data sources for CPG companies of all sizes.
“Bedrock was founded on the knowledge that insights would be a crucial driver for the growth of the CPG industry and the belief that analytics should be easy and accessible for every sales manager, category manager and marketer,” said Will Salcido, co-founder and CEO of Bedrock Analytics. “Our success to date is a testament to the fact that we have helped so many CPG companies, from the biggest manufacturers to the smallest startups, visualize sales data to make smarter, more informed decisions and more convincing sales presentations to retail buyers.”
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Bedrock is the first modern analytics platform to harmonize data from throughout the CPG ecosystem including retailers, syndicated data and point of sale systems and automatically surface insights about a CPG product’s sales trends and market activities. The Bedrock platform uses machine learning algorithms and insights automation tools to distill complex data into what matters most to sales, marketing and analytics teams. The platform can produce convincing sales presentations in seconds, providing bandwidth to category management teams and new capabilities to sales teams.
During H1 2019, Bedrock Analytics re-engineered its platform to the latest front-end framework, React, in order to more quickly and seamlessly deliver highly advanced analytics and innovative user interface concepts, setting the stage for true artificial intelligence driven capabilities. Other new features introduced in H1 include:
- Executive Summary. Bedrock Executive Summary explains your data’s key takeaways in straightforward terms. It is an algorithmically-driven tool that automatically turns topline reporting into clear, concise summaries of category and brand performance, and also presents potential risks. This provides emerging CPG manufacturers with a clear view of upcoming opportunities and possible threats.
- Sales Decomposition. Sales Decomposition breaks down sales performance by the measures that determine if a product is declining or growing. Each descending branch of the Sales Decomposition tree digs deeper into the why of the branch above it, deconstructing the key drivers that contribute to growth or decline in a straightforward, easy-to-read format.
- Dynamic Selection. Dynamic Selection is a way for the Bedrock platform to filter databases dynamically and choose products based on a specific set of filters. Users can now arrange existing category information into new, more in-depth reporting without having to perform time-consuming Excel functions.
- Promo Stats & Benchmarking Visualization. Promo Stats & Benchmarking provides granular insights into how promotional price adjustments impact sales. The new Promo Stats & Benchmarking Visualization includes an entire suite of enhanced promotion statistics, added period performance metrics to the interface, and the ability to analyze and compare against your competitors’ promotions.
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Coinciding with the product’s maturity, the Bedrock Analytics team has grown significantly in 2019. Navdip Bhachech recently joined as SVP of Engineering, bringing more than two decades of experience in engineering management roles. Mr. Bhachech previously served as Head of Engineering at Amazon Web Services and as Group Program Manager at Microsoft. Meanwhile, Amanda Pinckard joined in July to serve as Bedrock’s Director of Customer Success. Having served both as a salty snacks buyer at Safeway and category manager La Terra Fina, Ms. Pinckard brings extensive knowledge of the entire CPG ecosystem and oversees the customer success team. Bedrock also added Sree Karthikeyan as its Senior Software Engineer, Data Platform. Coming from Pinterest, Mr. Karthikeyan has an extensive background in big data engineering, and will be instrumental in scaling the Bedrock Platform to process and visualize increasingly larger datasets with speed and efficiency.
“We’re immensely pleased to welcome Nav, Amanda, Sree and the rest of Bedrock’s new team members,” said Will Salcido. “As we fulfill our mission of democratizing CPG insights and making these insights accessible to manufacturers everywhere, our team’s collective knowledge, energy, fearlessness and adaptability will propel us into the future.”
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