Event Recap: Highlights from Data & Analytics Xchange 2024 – From Product Data to Customer Experiences
On July 11, 2024, brands and retailers met in Stuttgart to explore how data and analytics are transforming digital commerce and taking customer experiences to the next level.
The e-commerce market continues to evolve at a rapid pace, presenting brand manufacturers and retailers with ever-new challenges. Data-driven decisions and optimized processes are therefore crucial for long-term success.
At the Data & Analytics Xchange held on July 11, 2024, in Stuttgart, brand manufacturers and retailers gathered to exchange insights on current developments, best practices, and future trends. The central question was: How can companies leverage product data and analytics to succeed in digital commerce?
When Data Meets Practice
The keynote's message was crystal clear: numbers are everything – but only if they're properly understood. Marcel Brindöpke didn't mince words: a profit and loss statement (P&L) is only valuable when management truly understands it. Sounds simple, but often isn't. Throughout the entire value chain – from inventory management to customer acquisition and IT – there are often undiscovered opportunities for improving profitability. The key to success? Measure everything measurable to optimize EBIT(DA) strategically.
Data Quality and Digital Transformation
The subsequent panel discussions proved fascinating. Johannes Loos, Online Business Analyst at Victorinox, and Tim Lohmeier, Team Lead Data Excellence at Denios SE, shared insights from their sales channel reality. Their takeaway: Yes, much is automated today – but surprisingly, a lot still depends on manual effort and individual expertise. The path forward requires breaking down silos and fundamental change – not just in processes, but in employee mindsets. Particularly crucial: performance data and high data quality as the foundation for strategic decisions in brand enforcement and sales.
The second round featuring Philipp Wierz, Product Owner Product Data at Fressnapf, Katrin Schäfers, Head of eCommerce IT at engelhorn, and Roman Locher, Senior Manager IT at Porsche Lifestyle, opened up the black box of technical challenges. Multi-channel, private labels, marketplaces – each setup brings its own complexities. Particularly interesting: the current state of AI. While some companies are already using AI-generated SEO content, many departments remain skeptical. It's an intriguing balance between innovation and caution.
Hands-on Workshops
Following the corporate insights, four parallel workshops got down to brass tacks.
The Power of Data Syndication
Ingo Körle and Jens Kügler were straight-shooters: sales often fail at the basics – too much effort, too few resources, mismatched data. Their solution? Smart data syndication tools that simplify the process. The biggest need? Clearly in marketplaces and distributors. But beware: without clear ROI focus, it quickly becomes unprofitable.
AI as a Game Changer
Steven Jones explored how AI co-pilots can create real value. His vision: AI handles routine tasks so teams can focus on truly important projects. The key to success? Crystal-clear data quality – because here too, garbage in means garbage out.
Products as Digital Brand Ambassadors
Kai Hilsenbek and Carsten Hennig demonstrated powerfully: product data is much more than technical specs. It significantly influences purchasing decisions. From compelling copy to high-quality images and authentic reviews – everything needs to align, ideally channel-specifically. Their tip: treat your product data like real brand ambassadors. They determine visibility, image, and ultimately revenue.
Future of Personalization
With Dirk Hauke and Tobias Kaiser, attendees journeyed through the customer journey. Their focus: How can data take personalization to the next level? From concrete use cases to future visions – they made tomorrow's possibilities tangible.
Networking with Vision
As they say, save the best for last: Over street food and sunset on our rooftop terrace, attendees discussed, networked, and got inspired. The perfect atmosphere to deepen the day's insights and forge new connections.
Conclusion: Data Drives Digital Commerce
The Data & Analytics Xchange clearly showed one thing: the future of e-commerce lies in the intelligent connection of data, technology, and human expertise. Successful companies are those that not only collect their data but understand and use it strategically. The mix of keynote, practical talks, and hands-on workshops provided exactly the right combination to make this complex topic accessible.
Missed out? Don't worry – the next Data & Analytics Xchange is sure to come! Stay tuned and secure your spot early for next time. We look forward to seeing you!