McKinsey Receives Best-in-Class Distinctions in the POI 2021 Enterprise Planning Vendor Panorama Report

POI applauds Periscope by McKinsey for depth of analytics, machine learning, and more

NEW YORK and LONDON, Oct. 01, 2021 (GLOBE NEWSWIRE) — McKinsey & Company today announced that Periscope by McKinsey, a suite of marketing and sales analytics solutions that helps companies achieve sustainable revenue growth, has received four Best-in-Class distinctions from the Promotion Optimization Institute (POI).

The recognition appears in the POI 2021 Enterprise Planning Vendor Panorama report. It is the sixth year in a row that Periscope by McKinsey has been top-rated in this key annual industry report. The report evaluates how leading vendors help their manufacturing and retail partners understand how technology and services can help them improve promotional outcomes to drive profitable growth.

The ability to execute mutually profitable trade promotions is one of the main challenges facing retailers and manufacturers. Periscope by McKinsey’s highly analytical offering embeds McKinsey & Company intellectual property and a broad array of services in the promotion cycle. Periscope offers six core solutions: marketing, customer experience, category, pricing B2C, pricing B2B, and sales solutions. Each combines ongoing data management, insights, software tools, client service, and capability-enhancing support. Collectively, those elements keep delivering client impact by weaving Periscope’s IP into their clients’ everyday ways of working.

Periscope was named Best in Class in four functional areas:

  • Financial Orientation & Simulation
  • Collaboration External
  • Artificial Intelligence (AI)
  • Revenue Growth Management

Periscope was cited in the POI report for:

  • Its depth of analytics to support both modern as well as traditional trade (the latter is largely overlooked by many vendors).
  • Leveraging machine learning for pattern recognition in post-event analytics to provide more insight than can be yielded by arithmetic calculations.
  • Its advanced capabilities, such as cross elasticities, which many TPO vendors do not have.
  • Making it much easier to track forecasts and actual against plan at various levels of the hierarchy. This, in addition to the mean absolute percentage error, net percent error, and weighted net percent error, forms the basis of highly accurate reporting.

According to the report, Periscope is differentiated by:

“It’s level of automation and depth of the end-to-end offering of software and services. POI also sees Periscope as being a leader in pattern recognition through machine learning to help in answering the questions that people don’t think to ask. Also, its focus on data management and enrichment to ensure a more favorable output. Finally, the story boards for presenting the insights to customers or internally are compelling because they are dynamic and make collaboration easier than building PowerPoints from scratch.”

Zachary John, Partner, McKinsey & Company
“For retailers and CPGs, it’s been a market-defining year as we witnessed multiple years of e-commerce adoption in just a matter of months, thereby reshaping consumer behavior in short order. Meeting the needs of today’s new consumers requires a new muscle – scalable predictive analytics – to drive precision pricing and promotions.

“That’s why we continue to invest in transformative strategies and client-informed innovations across our suite of tech-enabled solutions to help our clients anticipate and respond to their customers’ needs. Our data-rich analytical suite enables companies to automate and optimize pricing, promotions, and assortment using pattern recognition through machine learning. This means they can rapidly make intelligent decisions to increase revenue, improve customer acquisition, and shape their value perception.”

The POI 2021 Enterprise Planning Vendor Panorama report can be accessed here.

About Periscope® by McKinsey
Founded in 2007, and now a part of the McKinsey Marketing & Sales Practice, the Periscope® by McKinsey platform combines world-leading intellectual property, prescriptive analytics, and cloud-based tools with expert support and training. It’s a unique combination that drives revenue growth, both now and into the future. The platform offers a suite of Marketing & Sales solutions that accelerate and sustain commercial transformation for businesses. Periscope leverages its world-leading IP (largely from McKinsey but also other partners) and best-in-class technology to enable transparency into big data, create actionable insights and new ways of working that drive lasting performance improvement, and typically sustain a 2–7% increase in return on sales (ROS). With a truly global reach, the portfolio of solutions is comprised of: Insight Solutions, Marketing Solutions, Customer Experience Solutions, Category Solutions, Pricing Solutions, Performance Solutions, and Sales Solutions. These are complemented by ongoing client service and custom capability-building programs.

To learn more about how Periscope’s solutions and experts are helping businesses continually drive better performance, visit www.mckinsey.com/periscope

To access the full POI 2021 Enterprise Planning Vendor Panorama report, please contact Joanie Malin jmalin@p-o-i.org, or visit the POI website https://poinstitute.com/

About Marketing & Sales, McKinsey & Company
The mission of the McKinsey Marketing & Sales Practice is to help leaders of both consumer and business-to-business clients create Growth that Matters through meaningful transformations and marketing-driven profit. The practice helps its clients set their strategic direction, develop their marketing and sales capabilities, and connect their organization to realize the full potential of today’s omnichannel opportunities. Clients benefit from McKinsey’s experience in core areas of marketing such as branding, customer insights, marketing ROI, digital marketing, CLM pricing, and sales and channel management.

For further information please contact:
Media Contacts
US : DiGennaro Communications : MaryLiz Ghanem McKinsey-DiGennaro@digennaro-usa.com / 917-518-8422
UK : 3THINKRS : Ruth Jones / Becca Ross mckinsey@3thinkrs.com / 0208 0872843

Subseasonal Weather Outlook (4 – 17 October 2021)

Subseasonal Weather Outlook (4 – 17 October 2021)

Issued 1 October 2021
First forecast week: 4 October – 10 October
Second forecast week: 11 October – 17 October

figure1

Figure 1: Rainfall Outlook

figure2

Figure 2: Temperature Outlook

Wetter conditions are expected over much of the northern ASEAN region in the next fortnight (4 – 17 October). In Week 1 (4 – 10 October), wetter conditions are predicted over the Philippines, as well as southern and eastern Mainland Southeast Asia. These wetter conditions are likely to become more widespread in Week 2 (11 – 17 October), covering the Philippines and most of Mainland Southeast Asia, apart from northern Myanmar.

Drier conditions are expected over the western Maritime Continent and parts of Borneo in the next fortnight (4 – 17 October).

Warmer than usual temperatures are predicted over much of the equatorial region in the next fortnight (4 – 17 October), including the region where drier conditions are predicted.

A Madden-Julian Oscillation (MJO) signal appeared to be developing over the Maritime Continent (Phase 4) at the end of September based on the RMM Index. Models predict this signal to propagate eastwards for Week 1 of the forecast period. Some models predict this signal to continue propagating through the Western Pacific (Phases 6 and 7) in Week 2, while others predict the signal to decay in Phase 5.
 
The outlook is assessed for the region in general, where conditions are relative to the average conditions for the corresponding time of year. For specific updates on the national scale, the relevant ASEAN National Meteorological and Hydrological Services should be consulted.

ITA chooses Airbus as strategic partner: 28 aircraft to be delivered from end of Q1 2022

ITA selects Airbus as the strategic partner for its fleet

Christian Scherer (CCO Airbus and Head of Airbus International) Alfredo Altavilla (Presidente esecutivo di ITA), e Steven F. Udvar-Hazy (Presidente Esecutivo di ALC)

ROME, Oct. 01, 2021 (GLOBE NEWSWIRE) — A strategic agreement has been reached between ITA (Italia Trasporto Aereo) and Airbus for the purchase of 28 aircraft to be delivered from the end of the first quarter of 2022. The airline has signed a memorandum of understanding for the purchase of ten Airbus A330neo long-haul aircraft, seven Airbus A220 regional aircraft and eleven Airbus A320neo family aircraft, the latter to be delivered after completion of the Business Plan. ITA has also signed an agreement with Air Lease Corporation for the leasing of an additional 31 new-generation Airbus aircraft, including long-, medium- and short-haul aircraft. Overall, the airline explained in a note, 56 new Airbus aircraft will be leased over the period of the plan – including 13 long-haul aircraft, the ultra-modern Airbus A350-900, and 43 short- and medium-haul aircraft – at significantly more advantageous conditions than those offered to Alitalia. In addition, ITA will also halve the number of leasing companies from the twelve used by the former national airline to manage its fleet to only six, relying on partners with proven financial strength to help the company grow its fleet from the initial 52 aircraft to 105 in 2025.

“The strategic partnership with Airbus and ALC is crucial for ITA in order to jump-start our business plan and achieve our goal of operating a new environmentally friendly fleet with significantly low operating and leasing costs”, said the airline’s Executive Chairman, Alfredo Altavilla. The agreement, explained Chief Commercial Officer and Head of Airbus International Christian Scherer, “sets a benchmark in the progression towards decarbonisation and efficiency. From the start, we have been working closely with ITA, listening carefully to their needs”. Air Lease Corporation is also “pleased and proud to be the launch lessor for ITA, supplying the new airline with 31 new Airbus jets, including state-of-the-art aircraft from the A220 and A320/321neo families as well as the most modern and environmentally-friendly long-haul aircraft”, said Steven F. Udvar-Hazy, Executive Chairman of ALC, adding: “These agreements will allow ITA to operate a new and technologically more advanced fleet to serve ITA’s network of European and intercontinental routes with great efficiency”.

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola barbara.sanicola@lapresse.it
+39 02 26305578 M +39 333 3905243

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/44de036c-8f65-4fed-bcab-e12e57a26227

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.

New Study Reveals Why Consumers Get Scammed

71% of consumers are confident they can identify scams, but 67% of those approached by a scammer fell for the fraud.

Consumers are confident they can recognize scams

Consumers are confident they can recognize scams

AMSTERDAM, Oct. 01, 2021 (GLOBE NEWSWIRE) — According to a new study by ScamAdviser, of 4,300+ consumers, scammers reach nearly everybody. 62% of the survey participants are certain that they have been exposed to a scam in the last year. The main reason consumers get scammed? Hubris! There is a huge gap between how good consumers think they are at identifying scams and the reality. 67% of the respondents who had been targeted by a scam said they had fallen for it. However, 71% of the respondents are (very) confident in identifying a scam.

42% approached more often by scammers

The number of scams is increasing. 42% stated being approached more often. Phishing (35%) is still the most reported ‘popular’ scam. But fraudulent (cryptocurrency) investment schemes (25%), unexpected wealth scams (24%) and, non-delivery of ordered products are gaining more and more ground.

Greed is not the most common cause

Consumers get scammed for different reasons. 45% of the victims of scams do not identify the scam until it is too late. Another 24% state a lack of knowledge to identify the scam as the primary reason for having fallen for it. Greed and “taking a gamble” are named by 31% of the users as primary reasons for becoming a victim.

There are several reasons why consumers keep falling for scams. 41% of the consumers check reviews on other websites, which are increasingly fake. 19% check a website’s SSL certificate which is not a trust indicator at all.

Investment scams are on the rise

Most consumers lost money (56%) or data (16%). The amount lost differs from $1.59 to nearly $700,000. In line with the rise of cryptocurrency scams, more victims report their losses in bitcoins and not their national currency.

Scammers are safe as consumers fail to report

Only 44% of the users reported scams, primarily to review websites (21%), followed by the hosting company (14%). The national police is the least popular reporting channel (6%).

Of the 46% who claimed not to report a scam, 23% do not know to whom to report the scam whilst 11% believe that reporting a scam would not make a difference.

Participants state that law enforcement agencies and governments are not doing enough to fight scams. 65% of respondents perceived their police and governments efforts as (very) poor.

The full report is presented at the Global Online Scam Summit and can be downloaded from ScamAdviser.com.

###

About ScamAdviser

Scamadviser is an initiative of the Ecommerce Foundation. More than 100,000 consumers check ScamAdviser every day. ScamAdviser’s data is used by anti-virus software, browsers and internet filters to keep more than 1 billion users safe. Contact: jorij.abraham@ecommercefoundation.org.

Related Files

Report – Why do consumers get scammed.pdf

Long Article – Why do consumers get scammed.docx

Related Images

Image 1: Consumers are confident they can recognize scams

This content was issued through the press release distribution service at Newswire.com.

Attachment

Myanmar Violence Spikes After Opposition’s Declared ‘Defensive War’

Fighting between junta forces and local defense forces in the northwestern part of Myanmar has been intensifying since the opposition National Unity Government declared a “defensive war” against the ruling junta on September 7.

 

Explosions have been frequent in cities, with the NUG saying September 18 there had been 101 bomb blasts in Yangon alone between September 7 and September 17. Dozens were also reported in Sagaing region in the northwest and Mandalay region in the central part of the country. Local militia groups and underground forces have targeted security forces, banks, junta assets and facilities including telecommunications towers. The junta said September 12 that 68 towers had been destroyed in the seven months since the coup.

 

Signs point to a worsening situation.

 

“The NUG has told us to be ready to take action,” 26-year-old Yangon resistance fighter Hein Zaw Latt, told VOA September 18.

 

“We have conducted six operations in Yangon,” he said, adding, “We are collecting information about the activities of security forces for further attacks.”

 

“More attacks will be conducted very soon,” said Naung Cho, a member of the opposition’s People’s Defense Force in the capital, Naypyitaw. He spoke to VOA a day after launching the fourth guerrilla attack on a police checkpoint in the city’s Lewe Township September 20, injuring three police officers.

 

Fighting in remote areas escalates

 

Clashes between the local resistance fighters and junta forces have intensified in four of the country’s divisions – the northwestern Chin state and Magway and Sagaing regions, and the eastern Kayah state. NUG defense minister Ye Mon wrote on his social media page on September 20 that the opposition People’s Defense Force had taken control of many villages and would soon take another step “toward the revolution.”

 

Critics of the minister’s remarks have also emerged, though.

Many small groups fighting on the ground mainly depend on makeshift weapons and hunting rifles, and they cannot counter junta airstrikes and heavy artillery attacks. Critics say the minister should focus more on getting promised weapons to the PDF than writing on Facebook.

 

Fighting is likely to intensify because military forces are stationed in villages, a local PDF member said.

 

More clashes, more victims

 

All of the sources told VOA the junta forces keep committing serious crimes, from arson to massacres of civilians. They say the junta also blocked internet access in some areas surrounded by heavy fighting.

Photographs and a short video have been widely circulated on social media showing houses on fire in the town of Thantlang in Chin state on the evening of September 18. At least 20 homes were burned down by military artillery strikes and a pastor of the Thantlang Baptist Church was killed.

 

After that incident almost all residents fled the town. Some families went to the Indian border while others stayed in makeshift camps in border villages inside Myanmar, according to a spokesman for the Thantlang Placement Affairs Committee, which helps displaced people.

 

The Chin Baptist Association has strongly denounced the military’s actions in Thantlang, saying it could lead to religious and ethnic clashes in the country.

 

“It was an insult to religion and religious community,” the statement said.

 

VOA was unable to obtain a military response on the case, but military spokesman General Zaw Min Tun told a local news outlet September 21 that the fighting between the army and local PDF erupted in Thantlang when the local PDF began attacking security forces. The pastor’s death is still being investigated, the spokesman said.

Another incident occurred in Myain Thar village, Gangaw township in Magway region on September 9. The NUG said 18 villagers, including 12 under the age of 18, were killed by junta forces.

 

Thousands of displaced civilians in makeshift camps around the country are facing food shortages and other difficulties, local charity group members told VOA.

 

Yangon security tightened

 

Security was tightened in Yangon after the NUG declaration. Security forces patrol townships, making random checks of homes, and personal belongings of people on the street are searched. Many young activists and students are reportedly arrested every day and accused of being linked to anti-regime attacks.

 

Nan Thandar Htway, a Yangon resident, said she is worried about her son’s security.

 

“My son isn’t involved in any violent attacks, but he could be taken at any time by the military if they wanted. I don’t let my son to go outside alone,” Nan Thandar Htway said. “I am terrified when I hear a knock on the door.”

 

Inspections and random checks have become more frequent in Mandalay after the NUG announcement, a freelance journalist told VOA. The journalist said people very rarely go outside at night for fear of arrest.

 

The Thai-based Assistance Association for Political Prisoners said that as of September 30, 1,146 people have been killed by junta and over 8,500 people had been arrested since the coup.

 

Source: Voice of America

China’s Tech Titans Funding Beijing’s Effort to Close Income Gap

During the three-day World Internet Conference held in Wuzhen, China, this week, the country’s biggest tech tycoons rushed to show their support for Beijing’s “common prosperity” initiative.

 

Their enthusiasm for the initiative comes amid a yearlong crackdown on the country’s tech industry, where several high-profile companies have faced investigations and fines. Formerly high-flying celebrity CEOs are now keeping a low profile.

 

Daniel Zhang, CEO at e-commerce giant Alibaba group, said his company’s donation of $15 billion to the initiative over the next five years represented its willingness to help China achieve its goal of prosperity for all.

 

Zhou Hongyi, billionaire entrepreneur and chairman and CEO of the country’s largest Internet security firm, Qihoo 360, said his company will donate an as yet undisclosed sum to the initiative and step up to help smaller firms thrive.

 

Stressing the need to develop these enterprises, Zhou said, “Our success depends on our country’s policies. … We must take the initiative to align our development with our national strategies and serve our country with science and technology.”

 

Lei Jun, CEO of consumer electronics manufacturer Xiaomi, said that technological development must be used to achieve social good and that tech companies should help build a good life for everyone.

 

Other tech giants, such as technology conglomerate Tencent, online agricultural marketplace Pinduoduo and food delivery platform Meituan, answered Beijing’s call before the Sept. 26-28 gathering, pledging financial support for social causes.

 

‘Common prosperity’ initiative

 

During his first eight years in office, Chinese President Xi Jinping occasionally mentioned the term “common prosperity.” Since February, when he declared China had eliminated poverty, “common prosperity” has become one of his favorite themes.

 

At a meeting of the Communist Party’s Central Committee for Financial and Economic Affairs on Aug. 17, Xi stressed that those who are already rich need to guide and help others achieve prosperity.

 

“Common prosperity means prosperity for all, not just a few people,” Xi said, according to a meeting note published by China’s state-run Xinhua News Agency. “We can allow some to get rich first, but we must then launch a scientific public policy to make sure every citizen can have their fair share.”

 

Central to achieving common prosperity is a concept known as the three distributions, first introduced by the Chinese economist Li Yining in the 1990s.

 

According to the explanation from China’s National Development and Reform Commission, the first distribution of wealth comes through market competition. The second is achieved through the state via taxes, subsidies and social welfare programs. The third distribution taps enterprises and individuals to redistribute their wealth through voluntary donations.

 

‘Third distribution’

 

“The target of this round of the common prosperity initiative is the wallet of wealthy domestic entrepreneurs,” said Lu Jun, founder of the influential nongovernmental organization Beijing Yirenping Center, in a phone interview with VOA Mandarin. His NGO focuses on eliminating discrimination and defending the rights of disadvantaged groups.

 

Wang Hsin-Hsien, a political science professor and chair of the East Asian Studies Institute at National Cheng-Chi University in Taiwan, told VOA Mandarin that businesses are essentially forced to make charity donations under the current system.

 

“China’s current common prosperity initiative is controlled by the party-state. That means large enterprises must make donations in order to show that they are choosing the right side. So I don’t think these donations will be voluntary,” he told VOA Mandarin via phone.

 

“This is not the charitable donation we see in Western countries, because eventually the money will be returned to the state for redistribution,” he added.

 

Meanwhile, analysts say this new wave of donation will not likely help boost China’s civil society.

 

NGOs under microscope

 

China has been tightening its grip on NGOs since 2016, demanding they provide specific funding sources and membership information or face being banned.

 

This year, China announced a new wave of crackdowns targeting NGOs. In May, the Ministry of Civil Affairs started to target “illegal NGOs with measures such as limiting their access to conference venues, publicity resources and manpower,” according to the state-owned news outlet China Daily.

 

“The moves were part of a sweeping campaign launched last month by the ministry and 21 other central agencies to clamp down on the unregistered NGOs, which have masqueraded as foundations, industrial associations and other nongovernmental groups to rake in money from the public,” China Daily said.

 

Lu told VOA Mandarin that the NGOs that can survive or get funding will be those that align their goals with the government’s agenda — unlike many NGOs outside China, whose views diverge from those of the government.

 

“I don’t think this is necessarily good news for NGOs, as I believe the money donated by private companies will go to the government-run or government-affiliated NGOs,” he said of the third distribution.

 

“Beijing won’t allow companies to donate to independent NGOs freely, let alone the ones they don’t like, such as NGOs working on human rights, labor rights and women’s rights.”

 

 

Source: Voice of America