We’re in the midst of the Digital Age. With the onset of the Digital Revolution in the 1970s and continuing today, we’ve become significantly reliant upon computerized information. It’s the infrastructure of our high-tech global economy, and astute interpretation of this endless stream of data often makes or breaks businesses.
Snack producers, bakers, suppliers and retailers alike rely on market data from companies like IRI, Technomic, Natural Marketing Institute and more to track product performance across retail and foodservice. Retailers also invest in supremely sophisticated data-driven analysis to streamline the omnichannel shopping experience to craft predictive-analytics models in order to maximize future profit. Collectively, these and other similar information systems comprise the behemoth known as “Big Data.” It’s imposing. And it’s necessary.