FMCG manufacturers can now benefit from always-on access to market data, analysis and insights with the launch of IRI’s end-to-end analytics platform, which is claimed to be the first of its kind in the market.
IRI stated that it invested nearly £1bn in its technology in the last few years to enable its solutions to automatically identify market opportunities and proactively provide recommendations to enable faster and better decision-making.
The IRI Always-on Marketing Mix Effectiveness Platform, powered by the IRI Liquid Data® technology, IRI Liquid Modeling™ machine learning algorithms and the Unify visualisation platform, is said to enable manufacturers to measure, optimise and plan their brand’s performance, including price and promotions, media and marketing activity to ensure they are delivering results and driving growth. It also reveals trends that allow clients to adjust and improve their strategy and react quickly to the competition.
The automated platform connects to any IRI, client or third-party rich data source, API or file type. It then harmonises the different data elements to deliver a unified view, measurement as well as insights, simulation and optimisation scenarios through IRI’s Marketing Foresight, and Price and Promotion applications. An easy to use web interface allows clients to check media, price and promo performance in near real-time and correct course on the fly.
“Access to the latest market data and insights takes on average around 20 weeks for companies within FMCG. In a fast-changing dynamic sector, this is too slow,” said Dr. Constantinos Kotopoulos, ACE Managing Director, Solutions and Innovation at IRI.
“Our always-on end to end platform offers a seamless solution that integrates with a client’s own systems and processes and is ready to go. The concept is simple – data flows in, analysis flows out.”
The IRI Always-on Marketing Mix Effectiveness Platform is part of the Innovation Showcase at IRI’s International Growth Summit that started in London today.
