A key hindrance often comes from not having the right data sources to inform decision making. A prime example of this is the “retailer black box”. Brands rely on retailers and third parties to drive sales but often lack the visibility of their true performance on these sites.
A second hindrance comes from having too much data, such as CRM, social media and external research. Without strong processes, there can be little cohesion across the various data sets, therefore businesses struggle to leverage it.
Watch the full Business Reporter interview here: Customer-centric data: The foundation of all decision making in retail