FOCUS 14
BIG DATA: ALIGNING NUMBER CRUNCHING WITH STRATEGY
by EDDIE SHORT, Global Data & Analytics, Partner
To harness the true power of big data, companies must align number- crunching with strategy. Eddie Short, Partner and Lead for Data & Analytics at KPMG UK and EMA explains.
© 2013 KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member fi rm of the KPMG network of independent member fi rms affi liated with KPMG International Cooperative, a Swiss entity. All rights reserved. F
or consumer brands, suppliers and retailers, the quest to unlock the full potential of data analytics must begin with a spot of self-analysis. It’s not all about the numbers behind the strategy;
it’s about the strategy behind the numbers. You must understand the key value-drivers behind your business. You must also ensure that your data analysis is aligned with your strategic priorities, and that the processes are in place to convert that data into actionable insights.
However, many companies are struggling to detect any such value. Measurable cause and effect is not always easy to detect. For example, if you invest in new data – or new analytics capabilities – in order to launch a discounted promotion to a particular customer segment, how do you know that you wouldn’t have sold to those same customers anyway?
Creating an advantage
The retail sector has invested billions in both customer relationship management systems and powerful data warehouses, leading complacent executives to assume they have big data covered. Recently launched by luxury goods brand Burberry,
Customer 360 is a data-driven shopping experience that invites customers to share their buying history, shopping preferences, Twitter posts and fashion phobias. Impressive programs such as these harness powerful data platforms that can analyse and deliver information to sales staff via their tablet computers. Such schemes have already proved their value, but there’s far more to big data than just getting to know your customer.
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BIG DATA
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