I was reading through the 2013 report on “Formula for growth: Innovation, big data and analytics” that the US Grocery Manufacturers Association (GMA) and Deloitte Consulting L.L.P. produced. This is a very interesting report, since it outlines the opportunities big data offers to food and beverage manufacturers, bringing the industry perspective to the big data discussion. The report also discusses how data mining technologies are starting to transform the consumer packaged goods marketplace, and outlines what companies may do to use the technologies to improve performance.
There are a couple of recommendations in the report that rang a bell:
- Business context is required to operationalize big data, analytics, and innovation
The majority of the consumer packaged goods (CPG) industry is lagging in data and analytical capabilities
Rapid-fire pace of innovation requires data & analytics competency
Yes, I agree that context is king.… Click to read the full post