Analytics in Consumer Goods

Even as leaders such as P&G and Amazon (in Retail) further embed analytics into the very fiber of the enterprise, consumer goods companies in general have yet to consistently connect strategy and organization design with investments in analytical tools. The result is an insight-rich, outcome-poor industry that struggles to demonstrate ROI on analytics investments. EKN’s Analytics in Consumer Goods industry benchmark is based on a survey of 60+ executives across a variety of consumer goods categories and business functions. Key findings include manufacturers’ inability to build upon early analytics maturity due to lack of clarity of strategic direction. The report includes a detailed maturity framework manufacturers can use to assess where they stand as compared to industry leaders such as P&G, as well as a prescriptive action roadmap to direct strategic action. Download Full...

Big Data Vision 2015

Big Data is a generational leap from an organization’s current analytics capabilities (from a data integration and management perspective) to a state wherein it is able to derive strategic value from the analysis of large volume, greater variety and velocity of data. The consumer is so far ahead in her use of mobile technologies; retailers have to play catch-up. The infographic below illustrates Big Data vision for...

3rd Annual Analytics in Retail

Now in its 3rd year, EKN’s annual Analytics in Retail industry benchmark is based on a survey of 200+ retailers. Consistent with findings of past studies, retailers continue to view analytics as extremely strategic, yet struggle to derive commensurate value from their analytics investments. 80% state they lag behind Amazon in terms of the strategic use of analytics. Business analytics will only evolve further into a strategic capability that sits at the intersection of customer preferences, business strategy and business processes. Insights will be deeply embedded across a retailer’s functional value chain, affording it both the ability to be investigative and predictive (strategic), as well as the adeptness to be efficient and agile (operational). A smarter, integrated brand of retail cannot be delivered without the ability to improve decision-making across the board via deeper customer insights. In 2014 retailers will focus on delivering existing insights to the right person at the right time with the relevant context (investments in Mobile Business Intelligence and Digital Dashboards will rise) and on ensuring insights are easily consumed and acted upon by business users (Data Visualization). In-store customer location tracking will be one of 2014’s analytics buzzworthy use cases, whereas investments in Big Data will continue to be byte sized. However, to build sustainable competitive differentiation through business analytics, retailers will need to go one step further than just focusing on data, tools and resources. Those that are able to overlay their analytics capabilities with a strategy and organizational capability tightly linked with their business model will lead the way. Therein lies the future of retail analytics. In this report: The hindsight > insight...