It was John Allen Paulos who said, “Data, data everywhere, but not a thought to think.” That rings true more than ever before. Companies are struggling with the deluge of data coming at them from multiple channels. But traditional data channels are just the beginning. Companies also are facing an unprecedented data flood from the Internet of Things (IoT). Data everywhere and not a thought to think, indeed.
Technology and business professionals alike are buzzing about the IoT. In the consumer packaged goods (CPG) industry, the IoT conversation involves retail point-of-sale data, syndicated scanner data from sources like Nielsen, consumer data from loyalty programs and product data from internal sources.
As more smart devices communicate within CPG ecosystems, the data pool – or demand signal repository (DSR) as it’s known in CPG circles - grows deeper and murkier. But analytics applied to the DSR can bring much-needed clarity and insight so CPG manufacturers can help retailers and consumers remain satisfied.
With analytics, the problem presented by an ever-expanding DSR can quickly be tamed. Analytics help a CPG company understand what happened, why it happened and what may happen in the future. Combining this improved insight with promotional plans and similar campaigns help a CPG manufacturer shape demand by providing incentives that guide consumers throughout their experience with a brand.
Learn more about how analytics turns demand signals into insights for meaningful action through these two discussions:
- OnDemand webcast. “Listen Up! Gaining more actionable insights by listening to data throughout your supply chain,” offers a discussion about DSR issues and lessons for overcoming challenges presented by ever expanding data.
- SAS at SAP SAPPHIRE NOW. SAS CPG expert Charlie Chase will demonstrate SAS Demand Signal Analytics at SAP SAPPHIRE NOW May 17-19 in Orlando. Find Charlie in the InfoSys booth (#410). Follow the Twitter stream at #SAPPHIRENOW.