Breaking Down The Data Silos To Align Sales & Marketing’s Vision
Data is the difference between profit and loss. Companies with the right data repository and reporting technology can track in real time how and where products are selling, performance of sales teams and retail partners and more. Timely data lets decision maker’s act quickly and confidently. But historically data has been siloed, throwing up roadblocks to good decision making. CPG companies need to consume data in an organized manner, develop a single data repository and reporting solution and most importantly drive action through their business environment.
Until recently, it wasn’t uncommon for managers to spend the first quarter of every meeting validating and questioning the timeliness of the data. No one would deliberately make decisions on old or corrupted data, but companies often had little choice.
Now, barriers to organizing, housing and successfully sharing data within an organization have shrunk. Partners in the industry are simplifying their data files, accelerating new analytical reporting capabilities. Reports and scorecards that were once utilizing 3-5 data streams are now accessing 15-20 streams, depicting the most accurate retail landscape to date. Mobile reporting solutions provide custom dashboards and analytics that the entire organization can use, minimizing IT costs, training, and frustration.
This year will be the year the CPG organizations move towards a single data repository, align their organization’s objectives, and capitalize on their opportunities with data they can access, share, and use for the right decisions. Those who have already begun this venture will see an accelerated growth of capabilities and opportunities moving forward.
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