WASHINGTON, DC – The Grocery Manufacturers Association (GMA) today announced the selection of Deloitte Consulting LLP (Deloitte) to conduct research on how food, beverage and consumer product companies can translate “Big Data” into useful analytics and business intelligence to support effective decision making.
Big Data is a name for the recent increase in largely external and unstructured business and consumer information. The explosion of Big Data has already caused many companies’ data warehouses to overflow. CPG companies need to determine how to capitalize on data from social media, smartphones, online behavior, sensor networks, purchase tracking and other sources.
Andy Platt, Chief Information Officer, The J.M. Smucker Company and GMA Information Systems Committee Chair noted that, “The goal of this joint effort is to separate the hype from reality. Having Big Data tools is not enough; we need to ask the right questions that will drive the metrics that matter.”
The scope of the study will span functional areas such as supply chain, sales, marketing, and finance, as well as take a cross-functional view. By combining Deloitte’s deep skills and industry experience with direct input from GMA members, this new research will create a Big Data and analytics roadmap for CPG companies focused on driving top and bottom-line growth.
“We are very excited to have been selected by GMA on this strategic effort,” said Marcus Shingles, Business Insights and AnalyticsPractice Leader for Consumer Products and a partner at Deloitte. “The study will focus on developing a short and long-term roadmap for harnessing Big Data to help CPG companies improve their analytical IQ and capitalize on new growth opportunities.”
“Big Data is a term we continually hear used in our industry,” stated Ann Dozier, Vice President of Information Technology, Dean Foods and GMA Information Systems Committee Vice-Chair. “This effort is focused on defining Big Data for our industry and sharing insights on how data can be used to promote growth and collaboration.”
“GMA and Deloitte’s research is designed to help the CPG industry take a disciplined approach to using Big Data to identify patterns and make objective, risk-weighted decisions,” said Denny Belcastro, Executive Vice President of Industry Affairs and Collaboration for GMA.
Based in Washington, D.C., the Grocery Manufacturers Association is the voice of more than 300 leading food, beverage and consumer product companies that sustain and enhance the quality of life for hundreds of millions of people in the United States and around the globe. Founded in 1908, GMA is an active, vocal advocate for its member companies and a trusted source of information about the industry and the products consumers rely on and enjoy every day. The association and its member companies are committed to meeting the needs of consumers through product innovation, responsible business practices and effective public policy solutions developed through a genuine partnership with policymakers and other stakeholders. In keeping with its founding principles, GMA helps its members produce safe products through a strong and ongoing commitment to scientific research, testing and evaluation and to providing consumers with the products, tools and information they need to achieve a healthy diet and an active lifestyle. The food, beverage and consumer packaged goods industry in the United States generates sales of $2.1 trillion annually, employs 14 million workers and contributes $1 trillion in added value to the economy every year. For more information visit www.gmaonline.org.