Are you spending too much time collecting and compiling data and not enough time on interpreting and pulling out real insights? This pattern is common across the Beauty industry.
Across the globe the average time spent in just getting data into an easy to use format is over 60% - with no one region spending over 50% on the key function of analysis, insight & action - therefore not leavng enough time to uncover emerging trends and identify game changers.
At Redslim we are working with a number of global Beauty clients, and we understand their challenge of bringing together a growing number of different data sources into one readable and actionable format.
While the historical data suppliers to the CPG industry (such as Retail Data Measurement providers) are still the base line, the industry is now facing a variety of emerging data sources, with the pressing need to integrate them to provide the Business a proper 360° understanding of the categories and channels trends.
This is specific to the nature of the products and the multiplicity of sales channels in the beauty industry. Data sources from NPD & Kline, or Segmenta & Generation for Travel Retail, plus the retailer direct data (e.g. Amazon) or through agencies providing such data (e.g. Profitero).
However, they add de-facto even more complexity and efforts to properly integrate them, while the business wants their critical monthly reports in time. We see insights teams therefore restricting the data they use in order to cope with reporting in a timely manner - so barely getting to the heart of the insights.
The Redslim solution allows to collect, harmonize and integrate multiple data sources to provide a holistic view of all your data assets and make them easy to access from our dedicated reporting tool. We are familiar with many data sources, while we remain nimble to learn about the emerging ones. We know how difficult it can be to even access some of them and simplify the data extraction. We will work with you to create the exact reporting and analytics what you and the Business need. Our simple to use Sprint 360° reporting solution is deliberately designed to be flexible yet wholistic - allowing insight teams to mine the data to a deep level, and senior stakeholders to gain a quick diagnostic view of the situation via dedicated dashboards.
For quick further details about what we do & how we do it please get in touch !