FOCUS 17 Trial, error and strategy
Successful companies make analytics an enterprise-wide, strategic priority. They identify whether they have the appropriate governance, operating, competency and process models to make the best use of their investment. They also act to ensure they have the mechanisms to deliver the right information to the right managers.
Time is of the essence, but so is simplicity. Complex legacy systems should not prevent retailers or brands from delivering a single customer view across all products and markets. Given such complexities, my advice to retailers looking to invest in big data is to remember that it’s a case of trial and error. Don’t bet everything on a single approach. Accept your defeats, learn from them, and think hard about the kind of information you are collecting and how it can deliver the most enduring value for your business. And always remember the question you should start out with: what am I trying to achieve?
• Turning leftover data into valuable data-driven processes
• Identifying which data is valuable and which data only complicates analysis
BIG DATA the big challenges
• Embedding analytics within the corporate culture • Confi rming the accuracy of externally sourced data • Ensuring IT data investments deliver value • Increasing the fl ow of value-added data and analysis • Identifying and maintaining the right expertise and capabilities • Understanding how big data could affect your IT infrastructure
• Using big data to improve fi nancial planning, business performance management and fi nancial consolidation.
Eddie Short Global Data & Analytics, Partner T: +44 (0) 207 694 4442 E:
eddie.short@
kpmg.co.uk
Eddie is a Partner and Lead for Data and Analytics at KPMG in the UK and EMA. He has more than 20 years’ experience helping multinational organisations leverage their data to create bottom-line business value.
© 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.
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