Take time to frame questions properly and consider what decisions — and decision-makers — are behind the analysis and commit to acting on those results. Scope the work to orient on the right data points to drive clarity in those decisions, and plan how ROI will be measured.
When identifying the right questions to start with, focus on those that can yield measurable results quickly, rather than complex business problems that would take much longer to solve and see results.
To get started, consider questions like these that are simple, data-oriented and can be measured in market quickly:
- What is the optimal pricing strategy for my product/brand?
- What promotional strategies are the most effective at driving engagement in my brand?
- How do I optimize the shelf to drive engagement in my brand and the category?
Start Simple: Invest in Science That Delivers Quality Over Complexity
As you’re starting small, it’s also important to focus on simple approaches to answering the questions you’ve identified. It's easy to get caught up in the sophistication that data science can offer — like the appeal of A.I. — but complex science doesn’t necessarily mean better science. Your organization can drive tremendous results by orienting around simple, scalable solutions that maximize the value you can pull from the data.
A straightforward, quality data source will allow your team to answer critical questions with confidence. The resulting insights into how customers are truly behaving with your brands and products will evolve organizational thinking over time. As new insights are adopted and confidence continues to grow, complexity can be added to provide additional precision and answer new questions.
Building Momentum on the Journey
As you start small and simple, create cross-functional teams to align data scientists to the business partners they are supporting. This will help ensure they have the context they need to deliver the right information and support the decisions needed by the business.
Once quick wins and ROI have been proven in small pockets, build on that momentum. Your wins will drive advocacy for the value of data science and the measurable impact it can have. You can also scale the value of these small case studies by applying the methods and learnings to different areas of your business.
As demand and impact grows, it will be important to further your organization by enabling your data science teams. Consider the right governance and standards to support the work. Build community around teams so best practices are shared and innovations are scaled to deliver sustainable ROI across the business.