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Big data seems poised to a make paradigm-shifting change to the food and beverage industry—and CPG as a whole. Big data gives business in this deeply consumer-connected space a whole new level of access and insight. Now, both manufacturers and retailers in the sector can review a real-time ocean of transactional and behavioral data on all aspects of consumer purchases, preferences, and behavior patterns. And, perhaps more importantly, big data’s new analytic tools let food and beverage businesses discern and predict consumer behavior and outcomes—enabling marketing, pricing, and competitive positioning optimization.
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