Traditionally the consumer products industry has, in many ways, relied on hunches and history far more than facts and figures. But today’s landscape requires more than guesswork. As consumer products organizations welcome data from third parties and work to build their own repositories, they gain the capability to know more – about their competitors, their customers, and the world in which they operate. At the same time, simply having data is not enough.
In part one of our OutPerform series, Impact< Insights < Data, we examined the value of insights-based decisioning and how consumer-products organizations can leverage data analytics to more accurately anticipate market shifts, better understand business dynamics, predict customer behaviors, and manage risk. In part two, we examine precisely how organizations can design and implement a holistic data strategy to enable the generation, implementation, and activation of such insights. We review both the technical and cultural aspects of this shift, as well as the steps consumer-products organizations can take to unlock the value of activated data.
Explore part two of our OutPerform series and how our approach can help your organization build the capabilities that are needed to create a data democracy by linking data to not only your vision but also your business goals.