After reading the online article – “3 big data types that will increase your ROI” – it struck me as something that CPG companies who sell directly to large retailers sometimes limit their view to the data the retailer provides back to them. Make no mistake – that data is essential to a profitable partnership with the retailer. But with innovations in analytics, big data and cloud computing richer, more robust, datasets can provide a deeper story than POS data alone.
Two of these data types have relevance to how CPG companies interact with their retailer.
By now, most companies have some sort of social platform or presence in place. A Facebook page to share content, a LinkedIn group to network with prospects, or perhaps a Pinterest page to showcase products. Many marketers are hyper-focused on measuring the number of followers, retweets or shares their pages and content are getting. This is certainly a good thing to measure and engaging with your customers and prospects on social platforms is a must. However, there are huge opportunities within social media that can lead to even bigger wins.
Knowing this information can increase the value of the analytics you share with your buyer.
Hard to Find Data
Numerous, hard-to-find data assets such as these can be sourced from the big data universe through a data-as-a-service solutions provider. What’s powerful about using a data-as-a-service solutions provider, like Vortisieze, is that that you don’t need to implement a big data system or hire data scientists to start accessing this data. The insights have already been mined and sourced, and can be integrated directly into your database.
For CPG, weather data has been difficult to incorporate into traditional analytics, however, Vortisieze has incorporated this alongside POS, inventory and demographic datasets, just to name a few.
With traditional relational database management systems (RDBMS) adding unstructured datasets is problematic, time consuming and expensive. With Vortisieze as your data-as-a-service solutions provider adding new unstructured data is fast, low-cost and actionable with your retailer.