it’s hard to find a cpg manufacturer that doesn’t rely on data of any kind—internal or external—to inform at least some of their business decisions or gauge market opportunities. cpg manufacturers can sometimes set their sights too broadly and want to access more data than they can plausibly analyze or use. with all of the data available from a partner like nielsen, it’s tempting to want to see it all. for example, a cpg manufacturer might decide it wants three years of historical data covering 60 markets across 80 different metrics. instead, small and mid-sized cpg manufacturers are often better served by starting small and focusing on one or two areas where the right data can really move the needle for their business.
of course, identifying those data sets can be its own challenge, particularly if a cpg manufacturer has already made up his or her mind as to what data is relevant to the business. it also doesn’t consider how account-level data can help the manufacturer tell a better story to get its product placed at that retailer’s stores. but manufacturers can’t tell that story without data, or by limiting the data they use strictly to their own product’s performance metrics. by avoiding the common mistakes of trying to get all the data at once, and having preconceived notions about the kinds of data they need, they can multiply the impact of the data they receive. cpg manufacturers with the right sales data are better equipped to handle line reviews with their retailers. here are the 5 data sets you need and how to use them.
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