61% of senior managers believe that IT own their Big Data Why business unit heads need Big Data The hype is over .... Build stronger customer relationships Better risk management Provide focus for marketing campaigns and strategies Assist with audit/compliance and legal obligations Quality control Improve relationships with your employees Better strategic decision making IT should probably be the custodians of your company’s Big Data but it is down to the business unit heads to use the data to drive out competitive advantage and innovation in the future pan European enterprises currently does not directly manage its master data said Big Data enriched the company’s master data 1in5 80% ? ? ? ? ? 1/3 ! ! of all respondents (34%) admitted that they did not know what the company does with its Big Data Almost 3/4 of enterprises use Big Data for strategic decision making ! BIG DECISIONS OVER BIG DATA ...and it’s time for change Companies will increasingly need to integrate data from multiple sources Data ownership must move away from IT... Analytical talent will become a premium Sources: Coleman Park's research report ...and move more into business units to really benefit to the full.
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61%of senior managers believethat IT own their Big Data
Why business unit heads need Big Data
The hype is over....
Build stronger customer relationships
Better risk management
Provide focus for marketing campaigns and strategies
Assist with audit/compliance and legal obligations
Quality control
Improve relationships with your employees
Better strategic decision making
IT should probably be the custodians of your company’s Big Data but it is down to the business unit heads to use the data to drive out competitive advantage and innovation in the future
pan European enterprises currently does not directly manage its master data
said Big Data enriched thecompany’s master data
1 in5
80%
??
??
?1/3
! ! of all respondents (34%) admitted that they did not know what the company does with its Big Data
Almost
3/4of enterprises use
Big Data for strategic decision making
!
BIG DECISIONSOVER BIG DATA
...and it’s time for change
Companies willincreasingly need tointegrate data from multiple sources
Data ownershipmust move away from IT...
Analytical talent will become a premium
Sources: Coleman Park's research report
...and move more intobusiness units to really benefit to the full.
... providing relevant and optimised product information to the customer
Key product information requirements are greater than ever with customers demanding evermore high-quality and relevant informationGIVING RETAILERS A
Companies today have more data in more dimensions from more sources and they need to provide this
information to more devices and channels
NOW
THEN
Product MDM brings data alive for effective selling in a dynamic, changing, cross-channel world, blending structured data with controlled workflow and flexible usage
Reliable and consistent data is key to ensuring the best possible customer experience
Investing in Product MDM technology is no longer a job just for the eCommerce team, this is enterprise level technology.
Store
INSIGHT TO ACTION
agree that Big Data such as behavioural information can be used to augment product data
manage multiple language versions of product information
manage different versions of product copy to support A:Bor multivariant testing
74% 47%
Today, companies appear to grasp the importance of data...
A BOR
Product Attributes
Product Copy
Big Data
strongly agree or agree that the numberof product attributes required has increased in the last two years
72% 63%
However...
Limited information
Moving from a ‘static repository’, Product MDM provides a home for
augmented data
Personalisation
Social commerce
Offline activity
Companies fail to collect the information that retail operations and customers generate...
do not store purchasing and sales measurements and have no plans to do so
64%13%store information from customer product rating and social media
Only
Sources: Coleman Park's research report
Because youbought:
We recommend:
Product Hub
£100
... into a controlled, usable and accessible
system
augmenting it...
eCRM
Product MDM (Master Data Management) powered commerce puts product data flexibility at the heart of multi-channel selling across all devices, all channels, all segments and markets...