In early 2012, the GMA Information Systems Committee decided that, with the many headlines on Big Data, the industry should separate the Hype from Reality in terms of what Big Data potentially means to our industry. Does Big Data represent a real opportunity? If so, where is the value? How can we capitalize on the enormous amount of data that is progressively growing both internally and externally to our organizations?
The GMA Information Systems Committee selected Deloitte Consulting to assist in answering these questions.
The scope and objectives for the research were defined as follows:
- Focus specifically on opportunities to drive top- and bottom-line growth.
- Go beyond horizontal points of view and focus on this specific industry vertical by answering the question “What does Big Data mean to a Consumer Products company?”
- Speak to and provide value to a variety of industry stakeholders, from senior executives to multiple levels of functional and cross-functional management.
- Incorporate a broad view of opinions and perspectives from:
- Leading GMA member firms– Many GMA member firms participated in the research through interviews, full-day workshops, and proof-of-concepts or case studies. The GMA participation was cross-functional, spanning supply chain, operations, marketing, sales, HR, IT, and finance.
- Prominent thought leaders – Many subject matter specialists from Deloitte’s relevant practice areas contributed to the research, including prominent thought leaders such as Tom Davenport, a leading author on the topic of analytics and Senior Advisor to Deloitte Analytics.
- Notable academics – Contributing to the research were faculty from several prominent institutions, including Harvard Business School, MIT’s Media Lab (Massachusetts Institute of Technology), Indiana University Kelley School of Business, Northwestern University Kellogg School of Management, North Carolina State University Institute for Advanced Analytics, and Singularity University at the NASA Ames Center in California.
- “Innovators” (start-ups and entrepreneurs) – The Deloitte research team spent considerable time in Silicon Valley and other start-up communities, including Chicago, Boston, Los Angeles, and New York, interviewing the entrepreneurs that are creating the technological and digital innovations fueling the industry’s Big Data.
- Industry partners and stakeholders – Included in the research were interviews with retailers, Wall Street industry analysts, and representatives from the institutional investor community.