Don't Be Overwhelmed by Big Data

Big. Data. The CPG industry is abuzz with those two  words. And for good reason, as both brick-and-mortar  retailers and online retailers each attempt to create the  ideal omni-channel consumer experience that will drive  increased sales, they look to Big Data for actionable insights that can be measured against key KPIs. And while it’s understandable that the CPG industry is excited by the prospect of more data they can use to better understand the who, what, why and when of consumer purchasing behavior, it’s critical CPG organizations pause and ask themselves, “Are we providing retail team and executive team members with “quality” data?  POS, Big Data, order data or shipment summary data. It doesn’t matter. Is the right (i.e., “quality”) data getting to the right people at the right time? In essence, it’s the same question retail and executive teams face when considering how to best merchandise their SKUs. If CPG organizations understand the importance of getting the right product to the right people at the right time, then surely they understand the importance of applying the same forethought to their demand data?
 
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