2016 Review & Outlook: The Data Frontier

Since 2011, CGT has tapped into the thought leadership of our community to bring you the annual Review & Outlook Report. We have asked industry influencers to respond to one question and identify the single change or initiative that will have the biggest impact on the consumer goods industry moving forward. Over the last few years, data and analytics was the top priority across all categories, and this year we have decided to focus the entire report on this important capability, so we asked our experts:
 
How has the availability of data and world-class analytics for the consumer goods industry changed strategies and capabilities across business functions? 
Now that the hype around big data has subsided, the industry seems ready to do the hard work necessary to truly leverage data and analytics throughout the enterprise. The benefits appear to be well understood, and there is a refreshing acknowledgement that substantial challenges need to be overcome before companies can declare victory, particularly around talent and governance. Several of our submissions took a holistic approach to analytics, recommending that companies take a step back and consider what is possible with a new perspective; Michael Marzano and Eric Kim of Mondelez International suggest that strategies designed to “grow curiosity” and “expand collaboration” ultimately lead to success.
 
While each of the four sections contain references to business use cases specific to that process, using data to improve demand planning and reduce out-of-stocks in the Supply Chain area, or making personalized consumer connections in the Sales and Marketing section, there were a few ideas that came up in all four. Integration is a word that you will read over and over, relative to making the data accessible across internal departments, as well as integration into existing systems where insights can be made acted on. Making the results actionable is another primary trend, as companies move from merely gathering data to more sophisticated analysis and ultimately on to predictive capabilities. Visibility and collaboration along with timeliness and agility were other primary themes found throughout the report.
 
So while you might be tempted to just read the section you are responsible for, peruse all four topics (IT, Sales/Marketing, Innovation, Supply Chain) to get some new ideas and motivation for how to move forward with your data and analytics strategies. Grab your highlighter – you will need it!

Click on the links below to read an individual section, or the full report:

1. CROSS-FUNCTIONAL/IT TRENDS
2. INNOVATION TRENDS
3. SALES & MARKETING TRENDS
4. SUPPLY CHAIN TRENDS
5. THE DATA FRONTIER (Full Report)