Building the capability to quickly predict and adapt to market changes is critical to survive and thrive in an ever-changing marketplace. With the one-to-many sales approach losing its effectiveness, businesses require a deeper understanding of their customers if they are to meet consumer demands and support personalized shopping and channel-specific merchandising.
At the same time, businesses need access to robust real-time market insights to recognize sales opportunities and optimize their strategies and tactics for promotional planning, pricing
, sales opportunities across channels and categories, and competitive benchmarking.
Yet there are many challenges. Brands and retailers now contend with supply chain disruptions, increased competition, high inflation, and shifts in customer demands and buying preferences. These complexities mean that it has never been more difficult to stay on top of developments, digesting data, detect the signals from the noise, and take the right decisions.
This instability has also revealed an uncomfortable truth: we should never take it for granted that today’s business practices will work tomorrow.