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I work for a pretty big CPG Company (Consumer Packaged Goods) we have many metrics and data sources. However we don’t have someone with qualifications to be able to utilize this data. I’m pushing to have a data department or at least hire a data scientist.

My worry since I’m not a data scientist myself or anyone in the company is, is what will this person be doing?

Do you all think every company needs to have a data strategy or data department to perform advanced analytics predictive analytics in marketing, manufacturing, supply chain and finance?

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Why are you pushing for a department before you have an idea of what they would do?

You may need a data scientist or 5 or you may not. But you are a long way from successfully making this argument to someone. Figure out what needs doing, figure out the benefit of doing it, and then calculate whether it is worth doing based on what a data scientist costs in your area.

You need to figure out if the data you have has valuable insights.

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  • Thanks Matthew How would I do that I can find some insights say optimizing operations or optimizations profitability. But I don’t know what things a data scientist might find or someone with advanced analytics that I might overlook – John Kelly May 30 at 17:26
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Data mining and predictive analytics are great if they provide information germaine to what the company is trying to accomplish. A broad effort "looking for stuff" is useless if it doesn't fit the goals of the organization. I have worked for a pretty big CPG company that wouldn't have known what to do with data if it bit them on the ass.

If you show up telling the general manager of a division what they need to go do based on data mining that might be received well or you might be shown the door. See if a data management strategy helps the company achieve specific goals and work from there. This would be what any good executive would want to see before moving ahead with such a proposal anyway.

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  • I agree, if you don't have a purpose in mind then there is no point. – Kilisi Jun 1 at 12:20
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Sure.

Sure, I think your business could likely benefit from a data scientist, if they're willing to listen to the recommendations they make. For instance, they might be able to look at the sales data for the items you sell, notice which items are frequently ordered together by your customers, and suggest an arrangement of your stock that would allow for more efficient palleticization of those items by your stockers by placing them close together.

If you have an online ordering system that your customers can access, they could also potentially help drive sales by building a recommendation system that recommends items to the customer based on the purchase history of the customer, the items they've added to their shopping cart, and the general purchase history for customers with similar purchasing profiles.

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