On this week’s blog, we will take a look at how organizations leverage configurable data platforms like Signals Analytics to increase the impact that analytics has in driving optimal business decisions. We will spotlight how different stakeholders interact with the platform, as it gets deployed across an enterprise organization to support various departmental needs and business objectives.
So far we’ve covered how data and analytics teams use Signals Analytics, leveraging the connected data set to save time on data collection and data management; utilizing the accurate data classification technologies and taxonomies, to extract granular, attribute-level insights without the need to create and maintain machine learning rules that may not adapt to changing data sets; and integrating via the API or data mart to enrich the business intelligence environments they are responsible for building and maintaining. Yesterday, we talked about how consumer and market insights teams use the platform to reach deep into data sources they otherwise would not have access to, and deliver actionable insights to their internal stakeholders in way that really moves the needle. Today we will focus on the product innovation team.
Today’s Spotlight: Product Innovation
Product innovation is a challenge no matter what industry, but CPG in particular relies on new offerings to fuel growth and keep consumers engaged and excited about their brand. This translates into an insatiable need to understand trends and consumer needs and is fraught with risk. As it stands, more than 30,000 products are launched annually and more than 95% of them fail.
Product innovation teams that have used Signals Analytics report the opposite, with 3 times more successful product launches and 50% fewer modifications after the product first hits the shelves. How?
The flexibility and breadth of the Signals Analytics platform gives product innovation leaders the confidence in making their next move, underpinned by the proven success of leading brands which have adopted into their organization as a best practice. To learn more about how your product team can leverage the Signals Analytics platform, contact us.