WASHINGTON, April 22, 2013 /PRNewswire/ -- The Grocery Manufacturers Association(GMA) today announced the release of the 2013 report " Formula for Growth – (Innovation) Big Data & Analytics", completed in collaboration with Deloitte Consulting, LLP ("Deloitte"). The report is the culmination of more than 10 months of broad-based industry research led by Deloitte and contains five specific conclusions and recommendations for how food, beverage and consumer packaged goods (CPG) companies can convert emerging forms of "big data" into useful analytics and insights to improve business results.
Available exclusively to GMA member companies, the web-based, interactive application also includes a profile of top emerging technological and digital innovations that will usher in vast quantities and new forms of data for the CPG manufacturing and retail industry."Working closely with Deloitte, the GMA Information Systems Committee set out to help demystify the potential big data opportunities for the CPG industry and to better understand how we can continue to improve our overall analytical maturity using both existing and emerging sources of big data," said Andy Platt, vice president – enterprise analytics & insights, The J. M. Smucker Company, and GMA Information Systems Committee chair. "The goal of the research is to provide CPG companies with real and practical opportunities for leveraging the growing variety of available data and to drive insights for more effective decision making, ultimately leading to top- and bottom-line growth." "It is hard to understate the importance of this report," said Pamela G. Bailey, GMA president and chief executive officer. "Consumer packaged goods companies are focused on growth like never before and it is clear that big data is an important driver of innovation and business growth. Deloitte and the Information Systems Committee are to be commended for the insights they developed and the roadmap they have created for trading partners seeking to innovate and expand." As part of the study, Deloitte incorporated a broad view of opinions and perspectives from cross-functional teams within leading GMA member firms, prominent thought leaders from the finance, technology and innovation communities, and notable academics and technology innovators.