Innovative market, consumer and brand intelligence platform combines AI-powered data, analytics and forecasting
New platform offers advice for strategic planning and forecasting in an interactive source
DUBAI, United Arab Emirates, October 27, 2021 / PRNewswire / – GfK, a leading provider of consumer and market information, analytics and advisory services, launches gfknewron, its integrated AI-powered software platform in the Middle East. gfknewron is an important step in transforming GfK from a classic market researcher to an AI-powered data analytics and consulting company. Businesses can now access market, consumer and brand data from a single source of truth to answer questions such as: what was bought where and at what price? Who bought it and why? What should I do next to grow my business? AI-backed forecasting and practical advice will support sustainable business growth.
The powerful combination of data, AI-powered analytics, and clear recommendations displayed in the ‘gfknewron Market’, ‘gfknewron Consumer’ and ‘gfknewron Predict’ modules gives businesses a significant advantage in today’s fiercely competitive markets ‘hui.
Share information on the Middle East TCG markets, Sander Verboom, vice president – META at GfK said, “The pandemic has triggered a structural shift in product and channel preferences across the Middle East. Information from gfknewron reveals a very resilient market for technical consumer goods in the region, with consumers increasingly purchasing high-end products. Second, we see an increasing importance of the online sales channel thanks to the growing consumer confidence as well as the digitalization of the consumer shopping journey. Online sales remain at the high levels seen during the pandemic and continue to accelerate from there. At the current rate of growth, the online channel should represent 25% in the next 2 years. Finally, we’re seeing a growing consumer preference for brands that innovate, focus on sustainability, and have a purpose. “
gfknewron in brief
With the AI-powered gfknewron software platform, decision makers can gain insight into their business performance using data from a single source: from validating new target markets to aligning products in based on customer needs to assess future market potential. Multiple teams can directly access data at any time and resolve cross-departmental issues using the same data set. Scenario simulations help identify challenges at an early stage and plan strategically. AI-supported forecasting helps to make quick and informed decisions to stay ahead of the market competition.
Speaking on occasion, Pierre Feld, CEO of GfK, noted: “At GfK, we know that to win in today’s intensely pressurized and rapidly changing business environment, our customers need more than just data. They need us to provide them with strategic advice and market forecasts based on this data. The gfknewron business intelligence platform was designed to deliver all of this information on an intuitive platform that harnesses the power of artificial intelligence. We will empower our clients to adopt a much more data and analytics-centric way of working. It is also an important step in the transformation of market research GfK into an AI-powered data analytics and consulting company, made possible by a comprehensive software-as-a-service infrastructure.. “
The three modules of gfknewron include:
Gfknewron market: What was bought where and at what price?
gfknewron Market, powered by data from GfK’s retail panel, enables customers to use actual transaction data to measure the performance of their product portfolio against market benchmarks, develop strategies to leverage market successes, identify market changes and growth potentials and respond accordingly.
Gfknewron consumer: Who bought where and why?
gfknewron Consumer is the evolution of GfK’s Consumer Insight Engine (CIE). It allows the target groups to be analyzed in detail by answering questions such as: Who buys which products through which channels? What other brands are attractive to my target group? This allows brands to identify opportunities and risks at an early stage and adapt their strategies to changing consumer behavior.
gfknewron Predict: What should I do next to grow my business?
gfknewron Predict supports businesses with AI-powered forecasting and concrete recommendations for action in their data-driven decision-making process. With this module, companies are able to simulate market scenarios and predict their impact on their business, plan more effectively, optimize pricing and promotion strategies, and increase conversion rates and sales. income.
“We spend a lot of time listening to our customers, and by combining the best data talents with the best agile software development talents, we are excited to launch our powerful gfknewron platform. This allows our customers and all of their teams (at the office or teleworking) to make faster and safer decisions to win in their markets,“comments Sean O’Neill, Product manager at GfK.
Sean added: “We have enthusiastic confirmations from many leading Tech & Sustainability companies on how gfknewron is changing their ability to understand their markets, see how consumer sentiment is changing, and use AI power predictive insights and forecasts. to take decisive action on opportunities for their brands. GfK is the only supplier in the market to offer manufacturers of technical consumer goods an integrated platform with these consolidated capabilities. In addition, this cloud-based software platform is constantly evolving and improving with weekly feature releases. Further modules as well as the inclusion of additional market data are already planned. It’s enterprise-grade information with consumer-grade ease of use. “
More information on www.gfk.com/products/gfknewron
GfK. Growth from knowledge.
For over 85 years, we’ve earned the trust of our customers around the world by solving critical business questions in their decision-making process involving consumers, markets, brands and media. Our trusted data and information, along with our advanced AI capabilities, have revolutionized access to actionable, real-time recommendations that drive marketing, sales, and organizational efficiency for our customers and partners. This is how we promise and deliver “Growth from Knowledge”.
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