Data analytics continues to prove their worth when it comes to strategic business planning. This information came to us from Food Business News in their article, “PepsiCo getting closer to the consumer with data analytics.”
One food giant is investing in its data analytics capabilities to stay ahead of the evolving consumer marketplace. When it comes to advertising and marketing, analytics gives data and consumer insights to increase the efficiency of their promotions.
This reinforces the need for a data analytics strategy itself. As the world becomes smarter, data becomes the key to competitive advantage. In fact, according to the International Institute for Analytics, by 2020, businesses using data will see $430 billion in productivity benefits over competitors who are not using data.
It is clear that data is now a key business asset and it is revolutionizing the way companies operate, across most sectors and industries. In effect, every business, regardless of size, now needs to be a data business.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.