Most senior executives expect data and analytics to play a vital role in their organization’s future. Despite substantial investments over the last decade, however, many consumer brands fail to fully benefit from the data they have accumulated. As a result, satisfaction with data remains low, inspiring us to ask a key question: “How can organizations improve their data ROI?”
In this white paper, we introduce four practical tactics that can increase the return on data investments for consumer brands:
- Find new uses for existing data.
- Procure small, targeted infusions of data to fill gaps rather than bulk datasets.
- Use artificial intelligence (AI) to enhance the quality of existing data.
- Dispose of data when it’s no longer required.
We also introduce a simple, yet highly effective data ecosystem framework that will help consumer brands on their path toward increased data ROI.
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