The CPG industry traditionally had little exposure to consumer information. But, thanks to the explosion in digitization as well as a shift in the way that consumers shop to direct-to-consumer sales and online shopping, CPGs are generating customer and external data in ways that have never been before. Based on studies that retail websites had 22 billion visits in June 2020, compared to 16.07 billion worldwide visitors in the month of January. This growing interest in data by CPGs demands managing data on a large scale and adopting innovative approaches to managing data. Although this may seem like the ideal scenario, actually creating data and constructing an efficient data pipeline is a major hurdle for CPGs. Data Problems for CPG One of the biggest problems that CPGs have to face is collecting, orchestrating, and managing customer information that was previously at the disposal of distributors and retailers. According to the findings of a CGT study, the majority of retailers don’t share these data sets, which include online sales, promotional sales, and pricing data. Some of the information that CPGs are able to access is: ·         First-party information that is internal to the company, such as CRMs and ERPs ·         Third-party […] read more