Data as you know it: The challenges of yesterday’s data

Welcome to the Datasembly blog! We’re taking our expertise in product data collection technology and building a go-to resource - a library of helpful content created to educate and empower CPGs and Retailers alike.

Today, we’ll be kicking things off by explaining how “yesterday’s data,” the product data that companies have used for decades, isn’t enough.

Yesterday’s data

The old ways of both collecting product data and presenting that data to customers shouldn’t cut it anymore for today’s CPGs and Retailers. The pricing intelligence still being used today by brands and stores across the country isn’t necessarily incorrect; it’s just insufficient. Here’s why:

For Retailers:

• It’s sampled – Sampled data is like a puzzle piece: it’s part of the scene but it’s just not enough to see the big picture. This forces Retailers to base their pricing decisions on an incomplete competitive landscape.
• It’s expired – Retailers shouldn’t be basing real time decisions off old pricing data. Days make a difference in effectiveness and value of price changes. Retailers could be pricing KVIs either too low or too high, risking millions on competitor prices that are yesterday’s news. To compete and win at pricing every time, decision makers need fresh, real-time data.

For CPGs:

• It’s not shareable - Traditional syndicated data has onerous restrictions regarding what you can share with your retail clients. Shareable data lets CPGs create a more transparent partnership with Retailers and save money on Trade Spend.
• It’s averaged - Pricing is now hyper-local. Within metro areas there could be meaningful differences that impact revenue. Accurate store-level data is required to fully view all pricing and promotions and allow CPGs to quickly make the right decisions.
• It’s incomplete - Item and store level data on all private label items is increasingly important in making better decisions on pricing, assortment, new items, and more.

Better data, better decisions

At Datasembly, we’re changing the way Retailers and CPGs receive, use, and share pricing information. No more “best guesses,” no more averages, no more playing pricing tag with competitors. Our real-time hyper-local pricing data takes all the guesswork out of pricing, negotiating trade spend, better assortment decisions, and data driven promotions. Datasembly allows users to see the complete pricing picture and make better decisions, every step of the way. Our customers have more real time visibility into the competitive retail landscape than ever before; this new source of data with fewer restrictions opens up a world of new opportunities, empowering their teams to work smarter, not harder.

To learn more about our product data collection technology platform, and how it can empower your retail pricing and promotions strategies, reach out today to request a demo. And don’t forget to subscribe to our blog so you don’t miss the latest resources we’ll be putting out there.