Big Data for Organizations: How Data Helps All Boats Rise
Photo Credit: Eric Tressler
We've noticed an uptick recently in inquiries from wine organizations. These are groups composed normally of member wineries within a particular region or geography, who pool resources and band together for promotional purposes.
Their inquiries fall into one of two camps.
(1) They want to know how their region as a whole is understood and talked about by consumers. This entails aggregating Enolytics' partner data about consumer behavior and sentiment toward the wines in question.
Or...
(2) The organizations want to aggregate their own data from multiple member wineries. This entails each winery contributing the same data, which is normally delivered in spreadsheet format.
I'd like to focus for a moment on this second style of inquiry, and suggest five ways that aggregating such data can be useful to the organizations.
- Establish a baseline understanding of where each participating winery stands in relation to the organization's strategic goals and priorities.
- Set benchmarks in order for wineries to understand their performance in relation to their peers in the organization.
- Create normalized and comparable KPIs for member wineries, such as average spend per DTC customer, average order size or percentages of DTC by tasting room sales, wine clubs, Amazon, or etc.
- Illustrate geographical "hot spots” of consumer and wine club interest that currently exists.
- Compare varietals/blends by pricing bands and volumes, so that the organization can understand quantitatively where their own “sweet spot” might be.
We're finding that, at the organizational level, these kind of insights aren't normally researched or understood, even though the data already exists
The key is aggregating the data sets together.
That's how we can help. Please let me know if you'd like to connect on this. We'd love to work with more organizations, because a rising tide lifts all boats.
What will you do to raise the tide?
As always, thank you for reading --
PS Next week is Spring Break! And we're going fishin'. So, there won't be a post next Friday but I'm looking forward to seeing you back here in two weeks' time.