It doesn’t matter whether its big or small, we must make the best of any data.

Big data, small data, who cares what you call it data… I’m not a big fan of the BS bingo terminology in our space.

However, I am a fan of leveraging insight from digital channels to improve range, supply chain, customer service and marketing across all channels, not just online.

Take basket analysis of Epos data from a store environment. It’s backward looking - showing what’s been bought in the past - and is dependent on previous merchandising decisions and availability.

What decisions would you make differently if you had insight into what customers wanted to buy, not just what they ended up buying?

Much of this can be captured online, one example being what products customers search for on your site. It’s a great way of highlighting potential demand for products not currently ranged.

Mining behavioural data from online customers also allows you to drill down and look for location-specific trends, leveraging the web to try products before deciding which locations or clusters of stores might stock them.

Online data can show suppliers how a funded promotion raised their brand profile as well as increased sales while highlighting who clicked on an offer.

It’s widely reported Asos is leveraging insight from blogs, social media and competitor websites to make decisions about ranging, pricing and discounting, helping drive a 33% year-on-year sales rise.

In the US, Safeway’s customers are presented with deals on smartphones, based on their online and offline purchase history. Customers add offers they are interested in to their Club Card, and the system learns what they are interested in, improving relevance over time.

Even TV advertising is getting smart. Sky AdSmart is available in more than a fifth of UK households and tailors commercials based on the viewer’s profile and location, enabling better targeted campaigns while also opening up channels to local businesses.

Data: it isn’t big but it can be smart if actionable insight is the output.