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State of Data Analytics for Craft Breweries

In today’s dynamic business environment, business leaders in all industries (including craft brewing) are discovering the immense value of integrating data analytics and artificial intelligence (AI) into their business strategy.

The recent "State of Data Analytics" report from Tableau, encompassing insights from over 10,000 business leaders, emphasizes the fundamental role that data and analytics play in critical business decision making.

In fact, “96% of business leaders say data and analytics improves decision-making.”

This statement should resonate deeply within the craft brewing industry, where the fusion of traditional brewing art with cutting-edge technology is becoming increasingly significant.

A topic frequently highlighted in the report is the use of data in AI. Wendy Batchelder, SVP, Chief Data Officer, highlights the transformative impact of AI, especially generative AI, which is "one of the most transformative advancements we’ll see in our lifetime.”

However, it’s not without its challenges. The report reveals that "Eighty-seven percent of analytics and IT leaders say advances in AI make data management a high priority." For brewers, managing data effectively is crucial for ensuring quality control, understanding market trends, and personalizing customer experiences.

While the potential of data is broadly acknowledged, "over nine in 10 business leaders (94%) believe they should be getting even more value from their data." This is particularly pertinent for craft breweries that sit on a goldmine of data—from customer feedback to sales and seasonal trends—but may not be fully exploiting this asset to drive innovation and growth.

AI is currently a hot topic in the industry, and the fear of being left behind is tangible, as "Over three-quarters of business leaders already fear they are missing out on generative AI’s benefits."

Embracing AI doesn’t just mean the automation of processes—it leads to "noticeably faster decision-making and operations," and for breweries, this can translate to quicker adaptation to market changes and consumer preferences.

But all this hinges on one crucial factor: "AI's outputs are only as good as its data inputs," underlining the imperative for high-quality, well-managed data.

For craft breweries, this is a clarion call to prioritize data management and invest in a data-centric culture. "To cultivate a strong culture, teams must overcome key barriers including security concerns, insufficient tools, and training." Thankfully, there’s a positive trend with "over seven in 10 are increasing budgets for data analysis tools and training."

In conclusion, for craft breweries looking to thrive, it’s not just about the hops and malt—it’s also about embracing data and analytics to inform and elevate every business decision and action. As the industry evolves, those who invest in understanding and applying their data with the help of AI will be best positioned to predict trends, connect with customers, and pour success.

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