5 Steps to Data Modernization in Consumer Products

Evaluate your organization’s data readiness using this simple template. Feel free to add or remove questions based on your business requirements and objectives.

STEP 1: YOUR ENTERPRISE DATA STRATEGY

Becoming an insight-led organization begins with a plan based around goals like building better products, deepening engagement, or streamlining operations. Now is the time to decide which opportunity to tackle first, what to measure, and how to apply the learnings.

Do you have a clear roadmap or enterprise-wide strategy for how you are applying data to drive business growth?
Do you have a clear method for turning data into business value?
Who owns data within your business? How do business users access customer and marketing data today?
Do you have the data you need to make informed decisions at your fingertips?
Do you have a culture of self-service for your data needs?

STEP 2: YOUR VALUE EXCHANGE STRATEGY

Once you’ve determined what’s best for your business, it’s time to establish exactly what your customers will get out of providing their valuable data. Personalized marketing and loyalty programs are a start, but transparency is increasingly higher on the list of consumer expectations.

What is your value exchange strategy? What value are you offering to your customers in return for sharing their personal information?
Do you collect customer and contextual data? If so, what types of data do you capture (e.g., profile, transactions, digital interactions, IoT)?
Are you able to articulate the reasons and business goals behind each piece of data that you collect from your customers?
What best practices do you follow for security protocols around data storage?

STEP 3: CREATING A 360° VIEW

Your strategies are established. The data is pouring in — to too many places. The best way to stitch it all together and create a 360° view of customers is a robust Customer Data Platform.

Do you currently have a 360° customer profile interface that shows key data and statistics about individual customers?
What data sources do you use to enrich your customer profile? What procedures are currently in place for integrating and matching supplemental third-party data to the customer profile?
How do you integrate with different data sources? Do you support batch, micro-batch, and real-time integrations?
How frequently can you update your customer data from first, second, and third-party systems?

STEP 4: TURN DATA INTO MEASURABLE IMPACT

With your data connected and easily accessible across the enterprise, your business and your customers can begin to reap the benefits.

How are you identifying opportunity and capturing value from investment in data?
What level of commercial value are you creating from your investments in data?
How are you using data to generate new insights into customers to drive business innovation?
How are you activating the data you collect from your customers (e.g., personalization, test and learn, segmentation)?

STEP 5: PLAN FOR NEXT

The beauty — and the beast — of data modernization is that the definition of modern is always changing, so you can continue to drive more value, but it takes more commitment. The next frontier? Artificial intelligence and machine learning offer hyper-personalization, reduced costs through automation, and more.

How are you applying machine learning today (e.g., recommendations for content, products, offers, banners, etc.)? How are you using AI?
Are you struggling to put machine learning and AI experiments into full production?
Are you training your colleagues in analytical skills from data visualization to machine learning and AI?

Let’s Talk

Scott Clarke
Consumer Products Industry Lead, EMEA/APAC
scott.clarke@publicissapient.com
Simon James
Data & AI Capability Lead, EMEA/APAC
simon.james@publicissapient.com
Elizabeth Papasakelariou
Consumer Products Industry Lead, North America
elizabeth.papasakelariou@publicissapient.com
Albert Dalal
Data & AI Capability Lead, North America
albert.dalal@publicis.com