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CPG companies realize analytics is required to compete effectively. Yet few have succeeded in capturing the business value they expected. Often the challenge is data overload.
Our recent research shows companies have pockets of Analytics capability but continue to struggle with fundamental issues.
Accenture believes these challenges can be addressed if companies take the time to develop an enterprise-wide Analytics strategy and underpin it with an operating model designed to harness the power of Analytics.
Accenture surveyed executives at more than 90 large, global CPG companies and explored three important dimensions of their journey toward building an Analytics-driven organization.
Our goal in conducting the survey was to understand how CPG companies around the world are structuring Analytics-driven organizations and “infusing” Analytics into the decision-making processes.
We found that a host of barriers prevent CPG companies from realizing value from Analytics, including:
Lack of a clear process to prioritize and target Analytics linked to issues based upon expected value and ROI.
Challenges in hiring talent with advanced Analytics expertise.
Difficulty in prioritizing business issues where Analytics could be used to drive strong business outcomes.
Limited consensus on appropriate technology enablement, governance and operating models.
Reluctance to decommission existing processes and tools.
Capturing value from Analytics requires a more rigorous and holistic approach than what many companies apply. There appears to be a lot of money chasing the “wrong” problem or too many tools or too much data.
The result: Some companies are mired in “data overload” and inconsistent approaches, limiting value generation.
We recommend companies do the following:
January 23, 2014
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