Customers can affect every aspect of a business. They affect anything from sales and marketing strategies to detailed operation decisions, to supply chain management and inventory control. Enterprises today are facing more challenges than ever before. Consumer product companies are standing on the edge of competition. According to an IBM report, failure rate of introducing new products is more than 70 percent, internationally. Various concerns are adding cost and complexity to the production cycle.
By analyzing critical market and operational data, companies can transform their entire value chain and learn to anticipate consumer needs, rather than reacting passively. But with 2.5 quintillion bytes of new information created each day, and every bit could possibly contain insights, as both data generator and user. How could consumer product companies detect the most useful ones and make right decisions out of it?
The foundation of effectively managing consumer demand signals is clean, visible, integrated information. Integrated information is the key to moving beyond the simple automation of processes, and into deep business insight. But because 80 percent of new knowledge is unstructured content, ensuring information quality is necessary to speed the time-to-value of business analytics by delivering trusted, accurate and timely information to the right decision makers.
Seemingly unmanageable flows of facts and figures have been confounding the industry for decades. The sheer quantity of this “dirty” data is resulting in billions of dollars in lost product sales for consumer product companies due to inventory overages and shortages. But in fact things don’t necessarily have to be this way, innovative manufacturers are developing best practices around managing the variety, velocity and volume of big data to transform their enterprises.
With years of experience in consulting, Cresco International is here to addresses these challenges and today’s market dynamics. By gaining deep insight into consumer sentiments and key drivers, we aim to minimize unnecessary administrative tasks and manual entry, allowing management to focus more on business growth, rather than tedious, labor-intensive efforts. Moreover, we also deliver IT solutions leveraging latest technologies to view processing insights in real time, allowing decisions to be made immediately, rather than waiting hours or days until the content is compiled.
For more information on how your organization can utilize Business Analytics, connect with us today at email@example.com, chat with us now on our chat feature below, or call 844.6.CRESCO.