1/ One of the meaningful data challenges in CPG is industry classification. About 99% of Twitter just completely fell asleep and tuned out. This is for those other folks.
2/ Large data providers (i.e. @iriworldwide) classify categories at a course level (i.e. Alternative Beverages). Those classifications are static and move slowly. Several problems with that.
3/ A) can’t get granular enough to see something hit. Think of all the trends that could be in hidden within “alternative beverage”, b) new categories get added years after they hit. Imagine tracking the ride sharing industry as a category 5 years after Uber started. Crazy town.
4/ If you have course view and very late to game, AND you’re trying to identify innovation? Good luck. That is problem #874 for large co. CPG and large PE firms looking to use that type of data.
5/ Here is how @ericgtaylor is helping to deal with it here. Just one approach- there may be other great ones.
circleup.com/blog/2018/06/1…
circleup.com/blog/2018/06/1…
