We live in a world full of data. Some people even say that data is the new oil. But why so?
Just like oil, data isn’t helpful by itself. If you find an oil dwell in your garden, it doesn’t mean that you can use it to fill out your car and drive around. That oil needs to be refined and processed before you can use it as fuel.
Just like an oil dwell, the data dwell is enormous – although luckily not as polluting as the oil one. Every time we browse the web on our notebooks, order food online with our smartphone or watch a movie on your smart TV we are generating data, enriching the data well. Every day 2.5 quintillion bytes of data are created.
An Easily Accessible Source, But…
Most of this data is easily accessible. The problem, as we said, is using it in a smart way, getting out of it only the relevant information that we need.
Big tech companies develop algorithms and hire thousands of data scientists to process and use data for serving ads or recommending you the next show that you will binge watch.
But, first, not every company has the tech capabilities, the knowledge or the budget to develop those things in a precise and scalable way.
Second, when the data dwell is reached, one needs to know how to interpret the data and make sense of it. Again, oil is not useful by itself, it needs to be processed and a clear purpose for its use has to be found.
Where’s the catch for F&B companies?
A big, a massive, part of those above-mentioned 2.5 quintillion bytes of data created every day is related to the Food & Beverage – and Wines & Spirits – universe.
Think about it: people book restaurants, consult their online menus, order food via always-bigger delivery services. This is all data that is being produced and that F&B companies can use to better understand their customers and improve the quality of their offer.
Moreover, different parts of an organization can benefit from a data-driven process. Take Sales and Marketing: they can use it to refine their message and increase the granularity of the distribution of the products.
But again, there’s no use of having oil without a refining system. That’s why at Dashmote we work to provide companies a way for making sense of all this information wealth.
Our Location Intelligence solutions even stepped up the game to the next level. Imagine if, with data, an F&B or Wines and Spirit company could predict how big the outlet universe is and how it will grow over time. Or answer questions about the product distribution, the share of the market, the latest trends and check what competitors are doing.
We tell you it’s possible, that we can do that. In fact, companies like Coca-Cola, Heineken and Unilever are already working with us to unlock data and explore their market with it.
The future of business is data-driven. We’re here to help writing it.