Travel Retail has a problem. Data.
However, there is a solution. That solution is Dark Data.
I have heard many people talk about how little data they have within Travel Retail. I must agree, data can be difficult to come by. The thing is, even with a little data, you can do something. Did you know that you only need 6 numbers to uncover a story or an opportunity? 6 simple numbers.
So, is there a shortage of data? Or are we overlooking what we have hidden on network drives or attached to emails?
Dark data therefore is data that has not surfaced, remains unloved and unused. There are gems of insights that can be gleaned from this data though. These insights can transform the fortunes of your brand or business.
Dark Data can be in any form. These include:
- Sell out files from retailers
- Sell in files from an internal source
- Promotional calendars
- Reports from colleagues
So, my advice? Follow these 5 simple steps:
- Dig out every file you can. (Check your email, hard drives and network drives.)
- Pool this data together (from all business units)
- Go through each file, extract what you can & create a database
- Review it
- Leverage it
- Make it user friendly
This is one of the things we are good at. The data that some might cast aside as “interesting but not very useable” is actually a treasure trove to others. It is just a matter of perspective. Knowing how to look at the data in a very unique way delivers a new perspective and can transform relationships with retailers.
At One Red Kite, we can:
- Sign your company Non Disclosure Agreement (or you can use ours)
- Complete a Dark Data Audit
- Extract everything
- Review it with you
- Show you how to use it to best effect
- Make the data user friendly & a valued resource within your business
At One Red Kite, we are here to help you every step of the way. To undertake a Dark Data Audit or to find out more, contact me at firstname.lastname@example.org or call me on +44 (0) 7739 752 272.
As ever, thank you for reading.