Answer to Question #247532 in Management for Gabriel

Question

Can you think of a new way to collect consumer data that will give CPG companies the information they need to improve products and services,deliver real benefits to consumers?

Answer 1

Because of the fast digital transformation of global enterprises, data has become one of the world's most valuable resources. As a result, gathering customer data has become a top concern for companies. More organizations are able to contextualize, draw insights from, and monetize client data as more advanced technology is developed to capture and analyze it. Customers will be asked for data directly by CPG firms at some point in their interaction with them, usually early on. When someone initially signs up for a service, registers for a website, or buys something online, they are frequently required to fill out a form. The corporation will ask for a name and email address at the very least in this form, though other demographic and sometimes firmographic data will be collected as well. Later, customer surveys may be done, in which people are asked direct questions again, and the results are often used to profile customers and enhance products and services.