Despite continuous investments, companies in the consumer products industry have been better at generating volumes of data than extracting value from the data. They often fail to stitch together disparate analyses conducted across their organizations and convert them into coherent insights that can drive a business.
In a new KPMG report, Consumer products industry: How data strategy can unlock shareholder value, we discuss why companies are failing to maximize the value of their internal and external data assets and how they can build and empower data and analytics expertise and teams to deliver more value to the organization. In our view, it’s up to company leadership to encourage better collaboration across different functions by creating data analytics centers of expertise and by granting senior data executives direct access to the C-suite. When companies do data and analytics right in this way, it will lead to enhanced business insights that will help drive growth and profitability.