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What if you knew that you could improve the efficiency of your business without investing in millions of dollars of new technology, equipment, or new products? Let’s take a look at how a prominent consulting firm helped a local organization do just this and positively impact the lives of hundreds of thousands.
In early November, 2019, McKinsey & Co., a firm dedicated to assisting private, public and social entities, to help them “create change that matters” found a way to positively impact in this way. This endeavor allowed them to use analytics to identify process improvements as well as assist different organizations in building relationships and infrastructure that lead to better outcomes.
The Greater Chicago Food Depository serves more than 800,000 people throughout the city and partners with more than 700 organizations to meet the needs of those wondering where there next meal might come from. Distribution is tricky as not all areas have the same needs.
McKinsey discovered that the food bank tracks more than 74 million pounds of food annually. However, the organization lacked the analytical skills to make full use of its partners in food distribution.
McKinsey got to work organizing the vast amounts of data, including number of children fed daily, quality of the food, and amount wasted. This process also identified additional opportunities for partnerships in food distribution and also highlighted lack of equality in distribution.
Aside from realizing the unequal distribution of food across the city, the analysis also showed that a better infrastructure for food distribution was needed.
McKinsey also created a food index which detailed the complexity behind food insecurity. The analysis also revealed the relationship between food and socioeconomic factors (job opportunities, education, etc.).
Based on these results, the food bank has now implemented an algorithm to apply across its database to ensure equitable food distribution across the areas it serves, supplying more food to the areas where the need is the greatest.
Based on the data analysis, McKinsey also helped the food depository build and implement a customer relationship management (CRM) system to gather more information about their partners. The CRM also allowed the groups to track information like volunteers and also if there was a shortage of volunteers.
Data collection and analysis became a cornerstone of the food bank’s operations. By identifying issues with unbalanced food distribution to waste, the food bank is now better able to serve the needs of the community, and more effectively.
Data analytics can change the course of your business. Need help determining what data means the most to your business? Book a Discovery Call and let me help you harness the power of data for your business.
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