{"id":16054,"date":"2022-10-05T17:58:20","date_gmt":"2022-10-05T21:58:20","guid":{"rendered":"https:\/\/d3.harvard.edu\/platform-digit\/?post_type=hck-submission&p=16054"},"modified":"2022-10-05T18:06:53","modified_gmt":"2022-10-05T22:06:53","slug":"asian-paints-indias-biggest-data-science-company-that-sells-paint","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-digit\/submission\/asian-paints-indias-biggest-data-science-company-that-sells-paint\/","title":{"rendered":"Asian Paints: India\u2019s Biggest Data Science Company that Sells Paint"},"content":{"rendered":"\n\n\n

Background<\/strong><\/h2>\n\n\n\n

Asian paints was born in a small backyard garage of Mumbai in 1942, when its founders, Champalal Choksey, Chimanlal Choksi, Surykant Dani, and Arvind Vakil set out to address the dire oil situation in India, arising out of the import ban imposed in aftermath of World War 2. Asian Paints\u2019 penchant for innovative ideas and out-of-box solutions was evident right since its early days, when it first decided to sell paint in tiny packets, rather than the customary paint tins, accelerating their distribution process. The company matured to become Asian Paints (India) Pvt. Ltd in 1965 and later a public company in 1973.<\/p>\n\n\n\n

\"\"<\/a>
Image: Getty Images<\/figcaption><\/figure>\n\n\n\n

Today, the Asian Paints group stands to be the largest paint company in India and is in fact, more than twice as large as any other Indian paint company, besides operating in 15 countries and serving customers across 60 other countries. In this blog, we walk through Asian Paints\u2019s astounding success story, analyze key elements powering its phenomenal growth and uncover the innovations the company leans on to provide it the necessary thrust towards distinguishing it from the competition.<\/p>\n\n\n\n

So, what is the secret sauce in their paint recipe propelling Asian Paints so convincingly to the top over the years? Turns out, the secret pigment is data science.<\/p>\n\n\n\n

The magic pigment: Data Science<\/h2>\n\n\n\n

Eschewing traditional operating procedures in distribution of paint, Asian Paints decided to be the maverick in operating via its own delivery network, without leaning on intermediary warehouses and supply chain entities. These traditional wholesalers or distributors typically ate into ~20% of the margins. By cutting them out of the loop, and delivering its paint directly to the consumers, Asian Paints unlocked a massive growth potential.<\/p>\n\n\n\t\t

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\n\t\t\t\t<\/div>\n\t\t\t<\/figure>\n\t\n\t\t\t\t\t<\/div>\n\t\t\n\n\t\t
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\n\t\t\t\t<\/div>\n\t\t\t<\/figure>\n\t\n\t\t\t\t\t<\/div>\n\t\t\n\n\n

Asian Paints has access to copius amount of data it has been collecting over the years on the color, quantity, size and type of paint purchased during various times of the year in each retail store in each neighborhood in India. Equipped with this unique secret weapon when it comes to forecasting demand for paint, Asian paints finds itself in the catbird seat position, given its largest market share in India.<\/p>\n\n\n\n

Leveraging all these data, Asian paints employs state-of-the-art Artificial Intelligence (AI) and Machine Learning (ML) based predictive tools to forecast demand. Such tools forecast the demand for a specific type of paint on a given day, in a given location, anywhere in India. Gazing into this crystal ball, Asian Paints can pre-emptively make sure to supply the required paint products, directly to the retail store, eliminating dependence on intermediate wholesale outlets. Today, the company delivers paints to 70,000+ registered dealers nearly 3-4 times a day! Astonishingly, the paint stock delivered pre-emptively, even gets sold off 90% of times, within just 3 hours of delivery!<\/p>\n\n\n\n

While the competition, including other FMCG firms typically spend 30-40% of the retail price on logistics and distribution, Asian Paints can achieve the same, slashing distribution cost dramatically, to a mere 3%.<\/p>\n\n\n\n

Take-away<\/h2>\n\n\n\n

Asian paints is a concrete example of how data can deliver incredible value and showcases how this luxury is not merely the preserve of tech giants such as the Googles and the Facebooks. Today, Asian Paints isn’t just a paint company, but also a data science company under the hood that aims to pre-empt and meet the market demand for its products.<\/p>\n\n\n\n

References<\/h2>\n\n\n\n
  1. https:\/\/sightmachine.com\/customer\/asian-paints-digital-twin\/<\/a><\/li>
  2. https:\/\/edstechnologies.com\/Mailer\/aug15\/Newsletter_August\/images\/PF-5.pdf<\/a><\/li>
  3. https:\/\/cio.economictimes.indiatimes.com\/news\/strategy-and-management\/revealed-how-asian-paints-leveraged-digital-innovations-to-become-customer-centric\/60053105<\/a><\/li>
  4. https:\/\/marketfeed.com\/read\/en\/how-asian-paints-used-innovative-tech-to-drive-growth<\/a><\/li><\/ol>\n","protected":false},"excerpt":{"rendered":"

    Asian Paints \u2014 the familiar name across the Indian household for manufacturing and selling paint \u2014 knows exactly what paint you will buy and when! <\/p>\n","protected":false},"author":19353,"featured_media":16160,"comment_status":"open","ping_status":"closed","template":"","categories":[],"class_list":["post-16054","hck-submission","type-hck-submission","status-publish","has-post-thumbnail","hentry"],"connected_submission_link":"https:\/\/d3.harvard.edu\/platform-digit\/assignment\/competing-with-data-3\/","yoast_head":"\nAsian Paints: India\u2019s Biggest Data Science Company that Sells Paint - Digital Innovation and Transformation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/d3.harvard.edu\/platform-digit\/submission\/asian-paints-indias-biggest-data-science-company-that-sells-paint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asian Paints: India\u2019s Biggest Data Science Company that Sells Paint - 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