HOUSTON — Phillips 66, in tandem with Market Force Information, has developed and deployed a new predictive reporting tool called the Key Driver Fuel Forecast Indicator.
The tool enables marketers and operators of Phillips 66 brands — Conoco, Phillips 66 and 76 — to predict how improvements in consumer experience can grow fuel volume sales.
To do this, the Key Driver Fuel Forecast Indicator uses insights collected from Phillips 66’s Retail Excellence mystery shopping and audit programs and then creates predictions, which can drive change and improvements in the number of gallons sold.
"This is a game changer for Phillips 66, and we can finally provide answers to the question, 'Why run a mystery shopping program?' We can now show operators what happens when brand standards are met and the right consumer experience improvements are made," said Mike O’Connor, manager, brand image for Phillips 66.
Market Force's Analytics & Insights and Technology teams identified the operational metrics that drive fuel-volume performance and incorporated these insights into the Key Driver Fuel Forecast Indicator web-based performance calculator. This calculator shows operators how improvements on specific metrics can increase fuel volume at brand sites.
"This tool is a major breakthrough in driving site-level improvements. Phillips 66 customers will now be able to predict returns on efforts such as consistently cleaning pumps and bathrooms, or ensuring store associates are in nice, neat uniforms," said Gail Funderburk, vice president of client strategy for Market Force Information.
Houston-based Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of midstream, chemicals, refining, marketing and specialties businesses, the company processes, transports, stores and markets fuels and products globally. It has a network of branded marketers and dealers operating approximately 7,500 outlets.