Powerful insights are almost always perishable. Hence there is a need to have a dynamic system to turn insights to decision tasks instantaneously. Analytics initiatives are, by design, rolled out with this intention. And like any other initiative, this too must be justified with the immediate impact created, and mostly on the financial return. Like every piece of luggage in the airport needs a TSA approval, every corporate initiative needs an ROI stamp. However, estimating the impact of analytics projects is not straightforward, especially, if it’s not measured against the intent with which the projects were initiated.
Consumer shopping behavior has fundamentally changed, probably forever. As the world adapts to this ‘new normal’, many retailers and consumer product companies must change the way they operate. Their supply chains must be nimble; their product packaging must be versatile; their demand response must be dynamic.