While you don’t want to be narrow in thinking, you should have a goal in mind before you begin diving into data. Data can be overwhelming; looking for specific opportunities in new areas is one way to cut through the noise.
Goals could include:
- Grow the reach of our safety portfolio.
- Find complimentary product categories to sell to existing customers.
- Uncover new geographies to sell abrasives.
The beauty of data is that it can also uncover opportunities that you did not expect. It may find that your share with a customer or in a region is much smaller than you had expected, or it may show that the product group you thought would be a great add-on to your current mix could be a dud. Just make sure your goals are broad enough to allow for this kind of discovery. And as always, balance the data with qualitative research, including customer insight. Each data point is only one part of a bigger picture.