The current economic landscape is unpredictable. Though the pandemic has largely passed, economic concerns, including inflation, continue to be central for consumers. These impact their buying decisions. With data management, PMs and CPOs can accurately assess consumer sentiment and satisfaction to weather economic uncertainty and increase revenue.
Product data is abundant, but it can be difficult for CPOs and PMs to properly apply it. Many leaders fail to get the most out of their technology investments. With sophisticated data management, product leaders can ensure technology aligns with business objectives and generates insights about consumer behavior.
The pandemic exposed problems with supply chains. According to Gartner, most CPOs plan to invest in effective supplier risk management, but few currently have such tools. CPOs need transparency into the entire product supply chain. Data management offers full supplier visibility so product leaders can build resilient supplier ecosystems.
Supply chain and product applications will increasingly rely on AI and data science. Product leaders need to leverage these new technologies to gain insights into product performance, customer preferences, and recommendations for improvements. Data management ensures AI models have the quality data they need to operate effectively.
According to Gartner, by 2025, more than 80% of newly created supply chain applications will leverage artificial intelligence and data science resulting in additional insightful information, predictions, and suggestions.
Gartner estimates that by 2025, 25% of organizations will gain a competitive advantage by having visibility into multiple tiers of their supplier network, allowing them to proactively manage supplier risk and increase their organizations’ resiliency.
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