GMA Releases their “Formula For Growth: (Innovation) Big Data & Analytics”

Recently, the Grocery Manufacturers Association(GMA), in collaboration with the  Deloitte Consulting group, released their Formula for Growth: (Innovation)Big Data & Analytics, which highlights the opportunity that manufacturers have in creating strong analytical competency within their organization. Food Genius is proud to be one of the companies that Deloitte identified as a big data asset to the food industry.

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There are 5 key conclusions and recommendations out of the report that should be important to all CPG and Food Service organizations:

  1. Few CPG firms have the required analytical foundation in place.
  2. Rapid-fire pace of innovation requires data and analytics competency.
  3. Linear change to exponential disruption – Companies need to convert data into insights quickly.
  4. Business context required – Impactful change takes integrated and cross-functional business planning and execution.
  5. There is cultural shift – the characteristics and traits of the new industry “winners” are evolving.

You can see some of the key highlights and executive findings by here. GMA members may access the research online here. (http://www.gmaonline.org/)