Brands as the Center of Data Solutions? It's Already Happening

In the 1980s, a popular TV commercial showed two consumers bumping into each other, one eating chocolate, the other peanut butter. Thanks to that mashup, brands have never relied on serendipity to make strategic product decisions. Rather, they build data science teams to gain insights about customer tastes and the best pathways for selling. Data clean rooms are allowing for data collaboration between CPG companies and their partners, but CPG companies are famously long in analytics.

Retailers and media companies have rich transaction and loyalty data that CPG companies are otherwise blind to, so they can collaborate to benefit each other. For instance, CPG companies can provide retailers insight into whom they should target with a new product, while gaining better understanding of campaign effectiveness. Data clean rooms are creating a secure environment for data collaborations to occur more frequently and build strategic bridges between CPG brands and other manufacturers.

Data collaboration is the art of the possible, and CPG brands and manufacturers can create their own solution to invite their partners to collaborate. This allows them to gain insights into their partner's first-party data and run their analytics in a secure environment. This will create more meaningful and mutually beneficial relationships.