The aim of the paper is to lead change in Coca Cola Company through the use of analytics. Coca Cola is an international company that deals in the sale of soft drinks. The company was founded in 1892 in Atlanta Georgia and currently operates in about 200 countries globally and makes 55 billion servings of its various drinks every day. Currently, Coca Cola is the dominant company in the carbonated drinks global market, with a market share of about 42% while the closest rival, PepsiCo lags behind with a market share of 30%. Coca Cola’s mission is “To refresh the world in mind, body and spirit. To inspire moments of optimism and happiness through our brands and actions. To create value and make a difference”.
Throughout the 20th century, the company enjoyed high sales and commanded more than half of the world carbonated drinks market. Most of the sales were received from the four major sugary drinks; Coca Cola, Fanta, Sprite and Diet Coke (Sharf, 2014). However, with the turn of the 21st century, the company faced a declining market share due to the changing tastes and preferences among consumers. Today, most of the people prefer consuming more health- oriented soft drinks and bottled water as opposed to sugary beverages.
I am hoping that through analytics, I will help the organization rise from its current predicament hence increase its sales and market share in the global soft drink market. Carande, Paul & Traci (2017) stated that analytics is an essential tool that helps in creating value in the business since it provides a holistic view of the market conditions, consumer needs and their preferences. Also, analytics helps in effective risk mitigation and bringing together hard facts from the balance sheet and qualitative evidence such as consumer preferences, product innovation and the company’s geographical footprint. This offers a clear understanding of what drives value in a company and how to manage the value (Moreno, 2017).
- Carande, C., Paul, L. and Traci, G. (2017). How to Integrate Data and Analytics into Every Part of Your Organization. Harvard Business Review. June 23, 2017. Web. Retrieved on November 24, 2017.
- Moreno, H. (2017). Data Analytics is no Longer a Nice Option: It’s the Core of the Enterprise. Forbes. June 12, 2017. Web. Retrieved on November 24, 2017.
- Sharf, S. (2017). Coca Cola Profits Slip as too Few “Share a Coke”. Forbes. July 22, 2014. Web. Retrieved on November 24, 2017.