Archive for: May 2012

Category Management Series Tip #15: Turning Data Into Insights Part 2

 

This week’s tip is part 2 on turning data into insights.  My last tip (Part 1) focused on drilldown of the data, or the more scientific side.   Part 2 focuses on the second requirement for turning data into insights – by using experience, knowledge and insights.   I’ve been doing category management for over 20 years, and sometimes students or clients will ask “how did you know to look at that or consider that”?  That’s where tapping into all your past experience really pays off (at least it’s one advantage – possibly …

Category Management Series Tip #14 Turning Data Into Insights (Part 1)

Turning Data Into InsightsMost companies struggle to translate their data – whether it’s retail scanned sales data, Nielsen retail measurement data, consumer panel data –  into insights, and then even further into actionable business results.   Many organizations invest millions of dollars into data and data mining tools, with the expectation that the insights and action derived from the data will lead to volume and profit improvements.   But they only enable their category management team to derive these insights, and forget to arm other functions with the ability to translate data into …