Opportunities come in the form of guiding enterprise strategy . It may go back to the silos challenge and also may be a reflection of how organizations beyond insights and within insights are structured – meaning, in many organizations, people “own” insights or marketing or supply chain for a certain brand or category of the business. The influence may be naturally stronger between those cross-functionals. But when you’re looking more broadly, it’s more difficult to connect those dots or break down the silos between teams or across categories. Threats include data overload, and relatedly, compromise quality over speed . Data overload is real. It’s the quantity of data, but it’s also, what do I do with it and how do you take the time to make it actionable? One of the challenges was limited time or resources. I think that’s linked because it takes time to go through various data sources, especially as we encourage our insights teams to think broadly and creatively about sources of learning. And in any given week or month, we don’t always have time or space for the type of dot connecting. A main area of focus is now supporting the product development and innovation teams . This is from a business perspective, pulling ourselves out of some of the supply chain constraints that were happening through COVID
Biggest priorities have been data visualization and business intelligence . Let me go back to the data overload challenge. We generally feel like we’re getting our game in order from a data curation perspective. And now, what do we do with it? How do we make it meaningful or actionable for business? Let’s get back into the conversations and take the time for cross-functional collaboration sessions. How do we take some of these new data sources, visualize them, get engagement, get activation in new ways? We’re all dealing with a challenging business environment as we move through the inflationary times. Insights is one of the functions that organizations should be doubling down on when we’re in a very challenging economic time, to ensure a consistent pulse of the consumer mindset. If we’re part of the teams that have been cut, that’s hard to swallow.
Cherie Leonard Director of NA Insights Colgate-Palmolive
and returning to a sharp focus on jobs to be done for consumers.
INSIGHTS SPEND & TRENDS REPORT 2023
13
Powered by FlippingBook