Nielsen BASES Forecasting Model Complete MASB Audit

US-based cross-industry forum the Marketing Accountability Standards Board (MASB) has assessed Nielsen's BASES innovation sales forecasting model through its Marketing Metrics Audit Protocol - the first such model to go through the audit.

BASES' forecasting model connects marketing metrics to financial performance, combining consumer responses to new concepts and products with a manufacturer's planned marketing activity to estimate future sales. Used by global CPG companies, the tool helps allocate marketing resources and plan manufacturing capacity, based on the sales a new product is expected to deliver for the brand across a number of years. Nielsen says it taps into the group's breadth of market data to calibrate its models, delivering more accurate forecasts than rivals.

The MASB audit is widely regarded as the standard of measurement for companies which connect marketing metrics to financial performance. Randall Beard (pictured), President of Nielsen's Global Innovation practice, says the model was designed to meet the needs of clients who require very precise forecasts to ensure they receive return on their innovation investments.

Meg Blair, CEO of MASB, comments: 'While marketing has plenty of measures, it lacks standard metrics explicitly linked to financial performance in predictable ways. By completing the MASB audit, Nielsen has demonstrated its leadership in transparency and in helping marketing and financial executives come together to make confident investment decisions for their business'.

Web sites: www.nielsen.com and www.themasb.org .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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