{"id":71778,"date":"2025-05-08T14:04:59","date_gmt":"2025-05-08T18:04:59","guid":{"rendered":"https:\/\/syndigo.com\/?p=71778"},"modified":"2025-05-23T13:14:56","modified_gmt":"2025-05-23T17:14:56","slug":"retailers-data-confidence-vs-reality","status":"publish","type":"post","link":"https:\/\/syndigo.com\/pl\/blog\/retailers-data-confidence-vs-reality\/","title":{"rendered":"Retailers Confident in Data Insights, But Here’s What’s Really Going On"},"content":{"rendered":"\n

Some retail leaders boast about their expertise in handling data. In fact, according to a new report by Syndigo in partnership with Retail Dive<\/em>, “Retailers Report Data Confidence, But They Also Face Data Obstacles<\/a>,” <\/em>a whopping 94% of the 200 US-based retail executives surveyed say they’re “excellent” or “very good” at getting useful insights from their data. But a closer look at the survey shows there might be gaps in their confidence. Here are a few highlights of what we uncovered. <\/p>\n\n\n\n

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Conflicting Confidence About Data Readiness<\/strong> <\/h2>\n\n\n\n

So what do these data-savvy retailers say they\u2019re getting right? They claim some impressive success with insights into product and supplier data, but these positive self-assessments warrant closer examination, as the data reveals a more complex reality beneath the surface. <\/p>\n\n\n\n

Despite all this confidence, things start looking less than perfect when you dig a little deeper. In fact, 98% of these same executives admit they face serious data readiness challenges.  <\/p>\n\n\n\n

The biggest headaches? They’ve got data scattered everywhere, from information trapped in data silos and fragmented sources to inaccurate and incomplete data. <\/p>\n\n\n\n

Another area of weakness includes gathering actionable insights from product\/supplier data, despite responding that they have confidence in this area\u2014so there\u2019s a disconnect. These problems could be due to data quality issues and insufficient analytical tools. <\/p>\n\n\n

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\u201cIt\u2019s almost like the status quo assumes inefficiency. Retailers assume, \u2018This is the way it’s always been, and there\u2019s not much to do about it.\u2019 Many organizations have departments where merchants and buyers are still tracking products, stock, pricing, and content quality on spreadsheets.\u201d<\/p>\n<\/div>\n\t\t

Benny Blum<\/div>\n\t\t
Senior Vice President of Product at Syndigo <\/div>\n\t<\/div>\n<\/div>\n\n\n\n
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Time Waste Is Real Without a Unified Data View<\/strong> <\/h2>\n\n\n\n

The survey also reveals a significant operational inefficiency: every organization reports spending valuable time weekly searching for information or managing data across multiple platforms, which means that data silos and misalignment are a serious problem. Adding to this complexity is the fact that managing multiple systems is time-consuming and likely requires duplicate data entry.  <\/p>\n\n\n\n

The Product Experience Contradiction<\/strong> <\/h2>\n\n\n\n

While 93% of retailers rate their product experience delivery as “excellent” or “very good,” the data suggests room for improvement. A striking 99% of respondents identify ongoing challenges in: <\/p>\n\n\n\n