Gartner’s annual Data & Analytics Summit in London just wrapped , capping off three days of strategy, discussion, and networking with leaders in business and technology from around the world.
Though there was enormous breadth of expertise and perspective, common themes appeared time and again through the presentations, panels and sessions. Many experts—from IT to data science to analytics and logistics—shared a need to transform, adapt, and evolve.
In the keynote, Gartner Analysts Erick Brethenoux and Alys Woodward explained how data and analytics have not only driven change, but also can enable the response to it. “We live in a world of perpetual uncertainty,” said Woodward. Though it’s tempting to look forward to a ‘return to normal,’ they explained through the keynote, it’s wiser to prepare for and adapt to new reality of continuous uncertainty.
Other recurring themes included improving data governance and accuracy, automating time consuming and error-prone manual tasks, telling stories (both internally and externally) with data, and finding smarter ways to integrate, coordinate and connect the growing selection of enterprise data pools and analytics technologies.
Fortunately, the conference provided no shortage of ideas, insight and success stories from innovators pushing the world of data and analytics forward.
Transformation in Retail Leads to Huge Results
One especially inspiring session explored how retailers could harness new, often enormous streams of customer, product and behavioral data to get better results both online and off.
The session was led by Phil Carline, Head of Digital Content for Kingfisher, one of Europe’s largest owners of home improvement retailers. He echoed the need for significant adaptation and change: “The market and customer expectations have changed and will continue to change,” he said. “What that drives for us is the constant need to evolve both our data model but also our systems and business processes, the business rules behind those processes.”
Some key highlights and takeaways from the session:
- Prove the value of your content
- Know your market
- Automation and operational simplicity
Kingfisher relies on Syndigo to harness its data growth and translate its fractured streams of incoming information into meaningful, actionable insights. As Carline notes, the relationship is critical for helping Kingfisher’s ecommerce stores and almost 1500 brick-and-mortar locations keep up with shifting consumer demands and a competitive landscape “The flexibility is not just about our technology, but it’s also about the partners we work with and their ability to adapt with our changing needs.”
Evolution has been rewarding. Some of the results of Kingfisher’s adaptation to data trends:
Here’s Phil Carline, Head of Digital Content at Kingfisher plc, joined by Syndigo’s Sachin Kumar, to share his key learnings and best practices that help support their brands, their banners, and develop their content strategy.
Mastering Master Data Management
There was also no shortage of insights and guidance on the MDM front, for both advanced users and those just getting started with the fundamentals.
Master data management was framed as a critical part of digital transformation and evolution by Gartner analysts Helen Grimster and Sally Parker. “We’ve seen a 7% growth in the MDM market in 2021 alone, based on the recent market share report from Gartner,” Grimster shared. “This shows that everybody is excited and interested in MDM and people are investing…Based on our recent MDM survey, 41% of respondents are going to be looking at implementing an MDM program in the next 12 months”
They highlighted the importance of having a robust central hub to manage, govern and view all the core data of an enterprise’s digital ecosystem in one place to minimize errors and improve efficiency.
Learn More: What is Master Data Management?
For organizations just getting started with MDM and working to improve their analytical maturity, they had some great advice for building momentum towards a complete system:
- Focus on measurable business outcomes when pitching MDM internally
- Think big, but start small when weighing the risks and costs vs the rewards
- Prioritize your MDM roadmap based on business value
- Be agile and take an ‘MVP approach” to minimize time-to-value
- Collaborate with internal stakeholders to understand their priorities and build a mutually beneficial business case
- Continually measure, collectively build, and widely communicate the value of MDM
Investing in PIM
Team Syndigo was on the ground in London interviewing experts and getting their takes on the biggest trends and challenges facing the data and analytics world.
Here’s Alexander Ives, Director of Enterprise Systems at Boden, offering timely advice on investing in product information management systems to solve growing data challenges.
Watch the complete video below!
Get More Competitive Insights from Boden in The Future of Data Driven Retail
Syndigo’s Event Horizon
The Syndigo team is headed to an event near you! Visit our events page to keep an eye on where we’re going next and make a point to meet us there!