How do I design a product that fills a very specific gap in the market?
How do I get the pricing of my products right?
How can I raise profit margins without raising my prices?
Product teams are already using lots of basic product related information to answer these questions – sources of data such as competitor intelligence, focus groups, testing, customer anecdotes, and market pricing. But what happens when inventory tracking, refunds information and social media sentiment data is also added into the product mix? The answer: basic product data becomes super-charged with new insight to help you make better decisions.
As many forms of data are becoming increasingly more available in today’s ‘big data’ era there are exciting times ahead for product management. Times that include faster, more efficient and more innovative product development as a result of combining traditional product data with internal and external information such as social media sentiment, supply chain data and manufacturing data.
And it’s not just product teams who will reap the rewards… By using the Rosslyn Analytics cloud data platform to Integrate, Cleanse and Enrich (ICE) relevant forms of data, other internal departments are able to utilize valuable product data to improve their own operations.
Organizations which embrace the value of data will be the most innovative in launching new products, and the most intelligent in converting products into revenue.
To get you started, we’d like to share how we see and map out the value of product data. This unique research showcases some of the insights you can create by accessing, connecting and sharing product-related insight across your organization. It maps out what business objectives can be achieved – so you know exactly where to focus your efforts in order to deliver true business value, in real time, not weeks.
Google ‘big data’ and you’re going to be bombarded with a daunting array of articles and information – not all of it terribly useful or practical or high quality.Read article
So, without delay, start making your data roar by downloading our white paper.Download White Paper